• bitcoin

    Bitcoin (BTC)

    $ 4,086.17 3.03%
  • ethereum

    Ethereum (ETH)

    $ 155.97 5.45%
  • ripple

    XRP (XRP)

    $ 0.327148 2.04%
  • stellar

    Stellar (XLM)

    $ 0.092667 3.18%
  • eos

    EOS (EOS)

    $ 4.06 4.88%

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)