Morgan Creek Bets $1M that Cryptos will Outperform the S&P 500

Morgan Creek has pulled out Buffet’s wagering trick and placed a $1 million bet alleging that cryptos will outperform the S&P 500. Despite the recent plunges, they have faith in the digital currencies. The crypto market is the newest yet the most volatile industry currently. The recent plunges brought all cryptos to their lowest levels in approximately 13 months. Bitcoin had its worst month in the past seven years shedding off nearly 35% in November 2018. Amidst the entire decline, a cryptocurrency asset manager Morgan Creek bet that this market…

Bitcoin Fund Bets $1M That Crypto Will Outperform S&P 500

Morgan Creek Bullish On Crypto, Issues $1M “Buffett Bet 2.0” Morgan Creek Capital, a juggernaut in investment management, recently saw its crypto-centric subsidiary make an extremely bullish bet on Bitcoin (BTC) and its altcoin brethren. More specifically, according to a report from CNBC, Morgan Creek Digital, headed by Anthony “Pomp” Pompliano, has called for a single investor to take on a hefty bet. The wager, which has been colloquially dubbed “Buffet Bet 2.0,” sees Morgan Creek tout that its in-house cryptocurrency index fund, which includes all prominent crypto assets, save for…

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

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…

EOS continues to outperform other cryptocurrencies after gaining 33% in the last week alone

Recently, EOS price rallied and settled above $6.00 against the US Dollar. The coin has continued with its significant upsurge after gaining 33% in the last week alone, thus outperforming other cryptocurrencies. Further, price forecasts place the coin’s price at $11 by the end of 2018. EOS price is placed nicely after a significant uptrend above $6.00. There was a break below a connecting bullish trend line with support at $6.40 on the 2-hour chart of the EOS/USD pair. With a market capitalization of $6,193,486,293 and about 896,149,492 EOS coins…