Morgan Creek Bets A Million Dollars That Crypto Will Outperform The Stock Market In 2019

Morgan Creek is in the spotlight of our crypto news today for placing a $1 million dollar wager on investors that don’t believe that the crypto market will do better than the stock market in 2019.

Morgan Creek runs an index fund named Digital Asset Index Fund together with Bitwise Asset Management and the funds offer investors a great exposure to the best cryptocurrencies by market value.

This crypto investment company looks a lot like when Warren Buffet decided back in 2007 to bet $1 million that the stock market will do better than hedge funds against the Protégé Partners asset manager. Buffet did win the bet before he donated all of the money to charities. The exact same thing is what Morgan Creek is doing right now where they are challenging investors who believe that the stock market would produce better returns that MC’ crypto investments in 10 years time.

Anthony Pompliano who is a partner and Co-founder at Morgan Creek believes that those who are on the other side of the bet are people that are bullish on the index fund or people who think that cryptocurrencies are overvalued.

Pompliano explained:

“This is a combination of our outlook not only for the upside of cryptocurrencies but also the outlook on public equities.  A lot of people might look at this and just think we’re bullish on crypto — but you need to look at what asset we’re going up against. Public equities aren’t exactly at their all-time highs either’’.

In November, Pompliano told CNBC that he believes Bitcoin’s price will level out before it starts surging to a new all-time high. He believes that the crash that happened in November is actually a correction rally.