It’s Time to Sell Amazon Stocks and Buy Bitcoin

November 14, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Morgan Creek Capital CEO Mark Yusko, speaking at the Digital Asset Summit event, urged visitors to sell their Amazon shares and buy Bitcoin with the proceeds.

According to Mark Yusko, the blockchain has great prospects and now provides an opportunity to earn money:

“The genie is not going back into the bottle. It’s coming. The great news about that is it’s going to create the greatest wealth in the history of mankind.”

Yusko learned about Bitcoin in the early years of its existence. Then he asked his son to study it and provide information about companies such as Coinbase and Xapo, but he ignored the request of his father. Yusko then met Anthony Pompliano while investing in Lyft and offered him the position of CEO of the new division of Morgan Creek Digital, which will invest in blockchain products and companies engaged in development in this direction. Pompliano accepted the offer.

In October of that year, Morgan Creek Digital managed to raise $61 million for its blockchain fund, about which the company reported to the US Securities and Exchange Commission (SEC).

Yusko devoted the lion’s share of his speech to the Digital Asset Summit by comparing the current technology space with the early days of the Internet. Back in 1996, Morgan Creek Capital invested $5 million in Sequoia, and the company, in turn, invested part of this amount in Google, which at that time was still unknown to anyone and ranked sixteenth in terms of popularity of search engines. This investment subsequently turned into $200 million. Yusko says that today Web2 has exhausted itself and no longer provides such opportunities for earning.

“Get rid of Amazon. Slide out quietly, no one will pay attention. Sell it. Amazon — dead money for a decade,” Yusko said.

Morgan Creek’s CEO said his company recommends that its customers buy 1% of their capital as digital gold to hedge the risks of the traditional financial system.

“Put your one percent in that chaos hedge, that shmuck insurance. But then have three to five percent in building out the pipes, building out the infrastructure, backing the companies that you all are forming, so that we can create this new ecosystem — that doesn’t even start until 2024”, he said, recalling other technological innovations, the mass distribution of which required many years.

Earlier, Yusko said that Bitcoin has every chance to grow at least 20 times over the next 10 years.

Author: Marko Vidrih