Even though the market is at its lowest point this year. Some prominent people in the market have come out to support the crypto market with their words of encouragement, views and predictions. Morgan Creek has taken this a step further and has called for a single investor to take on a $1 Million bet. The bet dubbed the “Buffett Bet 2.0” made it clear that the Morgan Creek’s in-house cryptocurrency index fund will outperform the Standard & Poors’ 500 over the next 10-years.
“Buffett Bet 2.0”
Through its leader, Anthony “Pomp” Pompliano, Morgan Creek Digital, a Crypto Fund, has recently made it known that it is of the strong belief that its in-house crypto index will beat the S&P 500 over the next years.
According to the report, if the Standard & Poors’ 500 outperforms their in-house crypto-centric index Morgan Creek will be sending a cheque to whoever picks the bet, if it was the other way around the investor will be sending money his way.
Morgan Creek made it known that its in-house cryptocurrency index fund, is made up of all major crypto assets, except Stellar Lumens (XLM) and XRP, will.
Morgan Creek is Extremely Bullish
Pompliano has also made some important comments regarding the “Buffett Bet 2.0”. Pomplian stated:
“This [bet] is a combination of our outlook not only for the upside of cryptocurrencies but also the outlook on public equities.”
He added that:
“while the bet may indicate that Morgan Creek is “just bullish on crypto,” it’s important to put everything, including traditional markets, into perspective. But you need to look at what asset we’re going up against. He also made it clear that “public equities aren’t exactly at their all-time highs either.”
Operating on the principle of “Actions they say is louder than words” Morgan Creek has shown its long term dedication to the crypto industry through this initiative.