NFT Collection The Superlative Secret Society Price, Stats, and Review
What Is Cloud Mining and How to Make Money with It-Explore 6 Best Crypto and Bitcoin Sites for 2025!
Bitcoin Price Risks Falling To $10K, Bloomberg Analyst Warns
MoonPay Acquires API-focused Stablecoin Infrastructure Company, Iron in a “9-figure” Deal
DOGE Price Analysis & News: Is This The Final Bottom Price For Dogecoin, Coldware Prepares for Layer 2 Meme Maker
Crypto market shows upward trend again: Bitcoin and Ethereum in focus
GENIUS Act to set stablecoin rules, Circle celebrates: Is Tether’s compliance headache just beginning?
First-Ever Bitcoin Corporate Treasury Convertible Bond ETF Launched by REX Shares
Is the Crypto & Bitcoin Bull Run Over? Here’s What You Need to Know
Top Altcoins to Invest in as Pump.fun Mania Fizzles Out
Ether may fall below $1.9k “robust” demand zone, analysts eye capitulation
Bitcoin Breaches 12-Year Support Line Against Gold – Is The Bull Run Over?
$BLEM takes off as $XRP investors watch – Will you miss the show?
Trade war puts Bitcoin’s status as safe-haven asset in doubt
Ethereum Prepares New Testnet To Complete Pectra Testing
Best Cloud Mining Platform in 2025: DN Miner Helps to Achieve a New Way of Passive Income
Pi Coin’s Meteoric Rise Shocked the Crypto World—Will This Penny Crypto Be the Next to Skyrocket?
Stablecoins Thrive as Crypto Stumbles: A $4.23B Growth Spree in 2 Weeks
Will Pi Network Price Recover Above $2 Amid Rush for Pi Domains?
XRP Price Prediction: Could It Become the King of Payments?
New Crypto Coins: Fresh Market Entries That Could See Huge Growth
Tokenization as a funding backdoor for European founders | Opinion
Best Crypto to Buy in the Dip: 5 Bargain Picks for Smart Investors
Bitcoin price stabilizes despite economic uncertainties
$0.20 DeFi Token Predicted to Follow Ripple's (XRP) Rise as Further Woes Hit Pepe Coin (PEPE)
Crypto Fund Wagers $1 Mln It Will Outperform S&P 500 in ‘Buffett Bet 2.0’
Crypto asset manager Morgan Creek Digital has issued a $1 million bet against the performance of the S&P 500 stock market index.
Crypto-focused institutional asset manager Morgan Creek Digital has issued a $1 million bet against the S&P 500 (SPX) stock market index, a press release shared with Cointelegraph reveals Dec. 6.
The crypto fund has issued a wager that its Digital Asset Index Fund –– a basket of ten major crypto assets –– will outperform the SPX over the next 10 years, starting Jan. 1, 2019.
The S&P 500 is based on market capitalizations of 500 large companies that have common stock listed on major U.S. stock exchanges, the New York Stock Exchange (NYSE) or the Nasdaq Stock Market (NASDAQ).
The challenge from Morgan Creek Digital, dubbed “Buffett Bet 2.0,” evidently echoes a similar bet made by Wall Street’s prominent crypto critic Warren Buffett, who in 2008 bet $1 million that the S&P 500 would outperform a group of hedge funds over a ten year period.
If the bet is taken up, the firm noted the plan would be for the winner to donate the gains to charity, also mimicking Buffett’s move upon winning his S&P bet in 2017.
Anthony Pompliano, co-founder and partner at Morgan Creek Digital, told CNBC that the new challenge could illuminate more than just the performance of crypto markets for many people:
"A lot of people might look at this and just think we're bullish on crypto — but you need to look at what asset we're going up against. Public equities aren't exactly at their all time highs either."
In order to justify his firm’s bet, the investor has also reportedly pointed to recent losses suffered by FANG –– a group of high-performing tech stocks in the U.S. market, namely Facebook, Amazon, Netflix and Google. Facebook is currently down 24 percent percent loss year over year, as CNBC reports.
Pompliano made a similar observation about the performance of traditional stocks in a tweet last month, stating that FANG stocks were down 20-40 percent from their all-time highs, while the Dow Jones Industrial Average (DOW) had its “worst Thanksgiving week since 2011.”
Buffett himself has come out multiple times to provocatively criticize cryptocurrency, calling it everything from a “mirage” to “rat poison squared.”