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Users Dislike XRP and Cardano, Says Morgan Creek’s Yusko

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Wed, 30/11/2022 - 20:02
Users Dislike XRP and Cardano, Says Morgan Creek’s Yusko
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In a recent interview with YouTube channel Altcoin Daily, Mark Yusko, chief executive officer at Morgan Creek Capital Management, said that Cardano (ADA) and XRP are similar because developers and users don’t seem to love them in spite of their popularity.  

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“That one [Cardano] reminds me of XRP. The people love it. But the developers and the users don’t seem to love it. And that’s the part I don’t really get.”   

At the same time, Yusko claims that he wouldn’t go as far as comparing XRP and ADA to meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB). The investor claims that the popular canine cryptocurrencies “must go to zero.” 

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As reported by U.Today, Yusko said that Morgan Creek’s cryptocurrency index fund didn’t include XRP because the cryptocurrency was “too closely held.” He referred to the fact that a large portion of the existing tokens is controlled by Ripple, a centralized company. This came just months before Ripple was sued by the U.S. Securities and Exchange Commission over unregistered sales of the XRP token. 

That said, the Morgan Creek Bitwise Digital Asset index fund does have a 2.2% stake in ADA. In fact, the native cryptocurrency of the Cardano blockchain is its third-biggest holding (behind only Bitcoin and Ethereum). 

During the most recent interview, Yusko said that he likes Avalanche (AVAX) as well as Polkadot (DOT) and Cosmos (ATOM). “I think we could make really good cases about why they could be winners,” he said. 

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