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Morgan Creek Bets $1M Its Cryptocurrency Fund Will Beat The S&p

by wealthmanagement.com posted 10months ago 69 views
The Bitwise Asset Management index that the fund tracks is down more than 78 percent year to date. : An asset management firm is betting $1 million that its cryptocurrency index fund will beat the S&P 500 over the next 10 years. Morgan Creek Digital, the firm backed by the multibillion dollar investment advisor Morgan Creek Capital Management, announced its bet on Thursday. The wager is akin to one Warren Buffett made in 2007—that the S&P 500 would beat the performance of five actively-managed hedge funds. Buffett won his bet last year and donated $1 million to charity.

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