Mark Yusko advises sell Amazon stocks, buy Bitcoin

Posted 14 November, 2019

On 14 November Morgan Creek Capital CEO Mark Yusko made a keynote speech at the Digital Asset Summit where he provided the audience with some simple yet perhaps controversial advice. Yusko argued that Bitcoin is the next groundbreaking technology and that it is currently the greatest wealth-creation opportunity there is.  He reckoned that sell Amazon stocks and invest in Bitcoin and blockchain.

“Get rid of Amazon. Slide out quietly, no one will pay attention. Sell it. Amazon—dead money for a decade.” - Yusko said.

According to him, Amazon stocks are ‘dead’ and investors should make quite exits and slide into Bitcoin. He compared bitcoins with Google in the early stages of its existence. Capital Morgan Creek invested $5 million in a search engine in 1996 when it made a profit of $200 million.

“What we’ve been telling institutions is pretty simple. Folks, you’ve got to put one percent of your assets in Bitcoin as digital gold. It’s way better than gold.” - he continued.

Also, he stated that investors do not worry about the problems of scaling Bitcoin. The first cryptocurrency is at a basic level, just like TCIP for the Internet used to be, the expert said. He added that 2024 will be a year of technological development. Yusko’s words were bold and optimistic for both Bitcoin and blockchain. He said that the two will be the conduit for making the “first 10-trillion-dollar company and the first trillionaire.”

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