Head of Morgan Creek: the time to sell bitcoin has not yet come

Bitcoin price fluctuations do not mean that it is time to get rid of cryptocurrency, said Morgan Creek Capital Management CEO Mark Yusko.

Don't hold your breath in hopes of a trade deal, says Morgan Creek Capital Management's @MarkYusko . More on the risks he's seeing – and why he'd be buying bitcoin – below. pic.twitter.com/XcAeRKs5rB

– CNBC's Fast Money (@CNBCFastMoney) September 26, 2019

In an interview with CNBC, he responded to concerns about a cryptocurrency price drop that fell below $ 8,000 on Thursday. According to Yusko, the price of bitcoin may rise and fall, but the annual dynamics give good reason to buy an asset, not sell it.

Such indicators of the bitcoin network as the number of wallets, the number and amount of transactions, hashrate are growing, said Yusko. The price of any asset always fluctuates, he added.

The head of Morgan Creek compared Bitcoin to Amazon, whose shares have grown from $ 1.73 in 1997 to almost $ 1800 at the moment.

“Every year, including this year, they had a double-digit drawdown. The average peak is 31%, twice – 90%. When was the right time to sell? Never , ”concluded Yusko.

Recall, earlier the founder of Morgan Creek said that in the next two years the price of bitcoin will skyrocket to levels of $ 50-100 thousand.

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