• bitcoin

    Bitcoin (BTC)

    $ 3,287.90 3.39%
  • ethereum

    Ethereum (ETH)

    $ 86.09 2.97%
  • ripple

    XRP (XRP)

    $ 0.296637 1.81%
  • bitcoin-cash

    Bitcoin Cash (BCH)

    $ 88.40 7.18%
  • eos

    EOS (EOS)

    $ 1.83 3.99%

Investment

Buffett Bet 2.0: Crypto asset index vs. S&P 500

Morgan Creek Digital, a unit of Mark Yusko's Morgan Creek Capital Management, issued a Warren Buffett-esque challenge on Thursday. The Digital Asset Challenge (or Buffett Bet 2.0) is a bet that Morgan Creek's Digital Asset Index Fund will outperform stock-index S&P 500 (SPX) over the next 10 years starting January 1, 2019. Morgan Creek Digital is betting it will and is looking for a Wall Streeter to take the other side. Readers might recall Buffet's $1 million bet that a passive investment in the S&P 500 would outperform a sample of five actively managed hedge funds.

Buffett, the renowned investor and vocal crypto skeptic, won the bet and donated his winnings to charity. "This is a combination of our outlook not only for the upside of cryptocurrencies but also the outlook on public equities," Anthony Pompliano, head of Morgan Creek Digital, told CNBC in a phone interview. " 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." (CNBC)