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Hedge Funds

Million Dollar Bet Backs Bitcoin Against Equities

by posted 2days ago 6 views
Cryptocurrency fund manager Morgan Creek Digital is betting $1 million that its crypto fund will give a better return than the Standard & Poor’s 500 equities index. The bet is the opposite of the one placed by billionaire investor Warren Buffett in 2007 that predicted the S&P 500 would do better than five hedge funds picked by asset manager Protege Partners. Buffett won the cash in 2017. Anthony Pompliano, Morgan Creek Digital’s co-founder and partner, said: “Whoever takes the other side will likely be someone with the same outlook as Buffett.

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