Hedge Fund Manager Gives Simple Advice: Buy Bitcoin (BTC)
Mark Yusko, a veteran hedge fund manager and the CEO of Morgan Creek Capital, recently shared some bullish but speculative insights on the cryptocurrency market.
In an interview on CNBC’s Fast Money, Yusko highlighted his belief that all of the time is the right time to purchase more Bitcoin (BTC), emphasizing that investors should not get worked up over daily price fluctuations.
“In every year, including this year, it’s had a double-digit drawdown. The average peak-to-trough: 31%, twice 90%. When was the right time to sell? Never,” Yusko said, adding that the value of Bitcoin’s network continues to grow every year.
Yusko remains one of the more optimistic investors on Bitcoin and most recently set a $30,000 price target for the height of the next parabolic price movement. He also previously set a very bullish price target of $500,000 for Bitcoin by the end of 2024.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.