Search Coins

NFT Collection The Superlative Secret Society Price, Stats, and Review

cryptodaily.co.ukin 2 years
-2

Bitcoin Flashing Bullish Reversal Signal Amid Waning Sell-Pressure, According to Crypto Strategist

dailyhodl.com14 minutes ago
0

Blockchain game developer Immutable says 2024 outlook improved after reporting $50m loss

crypto.news16 minutes ago
0

Shiba Inu Burn Rockets 1500%, Can SHIB Price Rally To $0.000081?

coingape.com35 minutes ago
0

Former Binance Chief CZ Buys Two Memecoins

www.livebitcoinnews.coman hour ago
0

Lara Trump And Michael Saylor On Bitcoin – Must-See Insights

bitcoinist.coman hour ago
0

Trump’s second ex-wife calls for end of persecution against Roger Ver

cointelegraph.coman hour ago
0

Bank of Korea: Bitcoin doesn’t meet foreign reserve standards

crypto.newsan hour ago
0

OKX suspends DEX aggregator service due to detection of North Korean Lazarus attack

crypto.news2 hours ago
0

Argentina Strengthens Regulatory Requirements for VASPs

news.bitcoin.com2 hours ago
0

Cardano falls below $0.7: Analyzing if THIS zone can stop ADA’s fall

ambcrypto.com2 hours ago
0

Bitcoin Price Crash to $20K Possible If Nasdaq Enters Bear Market, Says Peter Schiff

coingape.com2 hours ago
0

Dogecoin Stuck in the Doghouse? Investors Shift Focus to Lightchain AI

www.livebitcoinnews.com3 hours ago
0

While the Crypto Market Faces Turmoil, Lightchain AI’s Consistent Growth Captures Investor Interest

www.livebitcoinnews.com3 hours ago
0

Whales Are Secretly Buying This Token—Is It the Next Market Game-Changer?

Bitget Referral Code 2025: ew9a68 (6,200 USDT Sign-up Bonus)

www.cryptoninjas.net3 hours ago
0

Bank of Korea to take ‘cautious approach’ to Bitcoin reserve

cointelegraph.com4 hours ago
0

Coinbase’s Government Network Expands—145 US and 29 Global Entities Onboard

news.bitcoin.com4 hours ago
0

Analysis: Bitcoin bulls brace for recovery as over $10B in liquidations signal market reset

crypto.news4 hours ago
0

Cardano addresses flatline below 10K – Is trader confidence slipping?

ambcrypto.com4 hours ago
0

Crypto platform Debiex must pay $2.5M in CFTC ‘pig butchering’ case

cointelegraph.com5 hours ago
0

Crypto users report new scam emails spoofing Coinbase, Gemini

cointelegraph.com5 hours ago
0

Peter Schiff: Bitcoin Could Crash Below $65K if Nasdaq Enters a Bear Market

news.bitcoin.com6 hours ago
0

Remittix Is Gaining Momentum—Don’t Miss the Opportunity Like Those Who Overlooked Pi Coin’s Early Success

cryptodaily.co.uk6 hours ago
0

Jokers Inc. Licensed to Develop “CODE OF JOKER EVOLUTIONS” from SEGA Planned International Launch in Summer 2025, Japan Release Expected in 2026

cryptodaily.co.uk7 hours ago
0

Crypto Fund Wagers $1 Mln It Will Outperform S&P 500 in ‘Buffett Bet 2.0’

Dec 6, 2018 6:35 PM +00:00
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.”



Share This Article


Get the most out of CoinFi News!

Save coins into your Watchlist and be the first to know about the latest market moving news.