This week’s topic of discussion at CNBC Fast Money was an interesting one. It was all about the trade deal and how it can bring a positive influence to the economy — or burden it with new challenges. But this debate took a turn, and bitcoin entered the conversation.
As the reporter uttered the word bitcoin, American investor and hedge fund manager Mark Yusko responded with a “buy” — signaling his bullish sentiment around bitcoin.
The Daily Price of Bitcoin Doesn’t Matter
Mark Yusko’s bitcoin sentiments are incredibly positive. He states the daily price of bitcoin doesn’t matter because of the fundamentals — these are strong fundamentals showing bitcoin’s progress in the last 10 years.
Here’s what Mark said:
In every year, other than 2015, Bitcoin has made a higher low. The marketcap has grown every single year. Every fundamental indicators of bitcoin — usage, wallets, block size, transaction size, hash rate — are making new highs.
Then the investor takes it up a notch by picking Amazon stocks and showing how, like bitcoin, the winner was the one who didn’t sell his assets.
Why are we sharing this with you?
This quick TV segment will penetrate into the minds of several potential customers. Plus, as the managing director of Morgan Creek Capital Management with $1.5 billion assets, Mark Yusko has been in the game of investing for a long time now.
In the past, Mark also declared bitcoin will hit $500,000 and is a better asset than gold.