The Chief Executive Officer of Morgan Creek Capital, Mark Yusko, opines that Bitcoin and other digital assets are vital for institutional investors to hold, especially when it comes to Bitcoin and pension funds.
Bitcoin continues to be a darling of high-end investors, giving it positive comments. The pioneer cryptocurrency promises high returns in the future. Besides, Bitcoin is a decentralized asset that is beyond manipulation by third parties. It also has a fixed quantity to circulate, unlike fiat currency that can be printed extra.
Yusko took to twitter to express his thoughts about this:
Most important decision institutional investors must make today is to #GetOffZero allocation to #Crypto assets, specifically #Bitcoin… https://twitter.com/apompliano/status/1179940975214510081 …
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In Support of Bitcoin and Pension Funds
The CEO’s tweet seems to be a response to an earlier statement by Anthony Pompliano, who is also from Morgan Creek Digital. Pompliano, popularly known as “Pomp” said that U.S. pension funds would be unable to carry out pension payouts to their customers in the future, suggesting that they should invest in digital currency Bitcoin, regardless of its volatility.
Wait till people start realizing that most pension funds don’t have enough money to cover their obligations.
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Bitcoin to Hit $16,000 in October 2019
In another development, a curious suggestion from BitcoinTalk forum emerged on Twitter today, offering Bitcoin price predictions until July 2020. On the outlook, the post suggests that the market is currently bullish and the crypto community should expect the Bitcoin rate to rise, based on information derived from charts and technical analysis.
#BTC to 16k this month than.
According to the tweet, the author expects the price of Bitcoin to rise to $16,000 in October 2019. In February and July 2020, BTC price will rise to $29,000 and $56,000 respectively. If this scheme is anything to go by, Bitcoin will be worth only $87 in November 2020.
Featured Image: Morgan Creek Capital