Bitcoin And Crypto Will Create The First Trillionaire In The World, Mark Yusko Says
The managing partner of crypto investment Morgan Creek Digital said that he believes BTC and crypto will create the first trillionaire in the world.
He addressed the subject at the DAS: Markets conference in NYC, and he said that the rise of crypto and their underlying tech, the blockchain, is similar to the emergence of the Internet.
Technology to create a new class of wealth in the world
He said that technology would create a brand new class of wealth in the world.
“The great news about that is it’s going to create the greatest wealth in the history of mankind,” Yusko said.
He continued and pointed out that “[The] first 10 trillion-dollar company, [the] first trillionaire – it’s all going to come out of this space. Because what we’re doing is fundamentally changing the way we exchange value,” Decrypt reports.
He also had a message for institutional investors – that BTC is a digital form of gold and it has even more utility than the precious metal.
People should invest 1% of their portfolios in BTC
He also advised his clients to place 1% of their portfolio in BTC and invest 3-5% into the blockchain companies that are building on the tech.
“Think about the wealth that was created, companies like Google and Amazon. They’re all going to be disrupted, and they’re all going to be replaced with this new technological evolution. But it’s early.”
Speaking of BTC's price, the most important coin in the market is trading in the red at the moment, and it's priced at $8,548.55.
In other news, it's been revealed that BTC definitely became the head of the crypto world as it's passing from consumers to institutions.
There’s a new report coming from the digital asset management company CoinShares, which took its data from a few industry leaders in order to analyze the big picture regarding crypto.
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