Morgan Creek CEO Mark Yusko has recently weighed in on the ongoing economic fallout that was triggered by rising interest rates and the escalating US-China trade relations. During CNBC’s “Power Lunch”, Yusko stated that he prefers Bitcoin (BTC) to stocks, and voiced a bold prediction that the flagship cryptocurrency could overtake the stock market in a couple of years.
However, Bitcoin, which is widely considered to be a “safe haven” asset, also replicated the bearish sentiment of the broader markets, plunging by six percent. According to Yusko, there is a large portion of Bitcoin holders who jumped on the bandwagon in December, and one should consider putting money into Bitcoin while “these weak hands are folding.”
Advertisement
Dan Burgin
Vladislav Sopov
U.Today Editorial Team