Morgan Creek Capital Management CEO Mark Yusko on Bitcoin ($BTC) and Dogecoin ($DOGE)
In a recent interview, Mark Yusko, the Founder, CEO, and Chief Investment Officer of SEC-registered investment advisor Morgan Creek Capital Management, LLC, shared his thoughts on $BTC and $DOGE.
According to a report by The Daily Hodl, on Thursday (March 2), while appearing as part of a panel that included David Duong (Head of Institutional Research at Coinbase) and Dan Gunsberg (Founder of Hxro) on Scott Melker’s podcast, Yusko had this to say about Bitcoin:
“But I will argue spring, summer right around the corner, my guess is May-ish, June-ish, nine months before the halving. And that’s the way it goes... It’s hardcoded into Bitcoin that every four years, you’re going to cut the block rewards. If you cut the block rewards, in theory, a whole bunch of miners will go out of business unless the price adjusts. And the price adjustment creates movement... Bitcoin is the most uncorrelated asset I’ve ever seen in my career.“
As for Dogecoin, he said:
“The speculative nonsense like Dogecoin, why does it even exist? I mean, my mind hurts. And I said the bear market would be over when DOGE is zero, and I want to stand by that, but I can’t because stupid people are going to be stupid.“
Last month, during an interview for the “Blockworks Macro” YouTube channel, Yusko said:
“Every day I have to live with this, where I say the bear market in crypto will be over when DOGE and SHIB go to zero. They never got to zero. In fact, they’re going up again. And there’s no there, there. And the only there is the people who say: Well, you better watch out if they actually find a use case...
“What’s the value? What’s the underlying value? Could you turn it in to somebody to get something? Nope. At least Amazon … they generate profits and cash flow. They have found a way to produce return… Ok, so if I had a share of that company, I could give it back to the company, and I would actually get something for that. But a meme stock or a meme coin? There’s no value.“
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