Bitcoin (BTC) is something that you should buy and there has never been a good time to sell it, said investment director Mark Yusko for mainstream media.
Yusko in the Bitcoin case: All indicators are rising
In an interview given to CNBC On September 27, the founder, CEO and CEO of Morgan Creek Capital Management compared the ten-year history of Bitcoin with the history of Amazon.
I responded to cryptocurrency host Melissa Lee's concerns about the Bitcoin price, which fell below USD 8,000 on Thursday.
For Yusko, while the price of Bitcoins can rise and fall, the increase from year to year gives a solid reason to buy rather than sell.
"All network indicators and network value are increasing; the price of each asset changes, "he explained.
Examples include the network shortcut indicator, transaction volume and portfolio numbers, all of which have continued their upward trend this year.
Bet on a bullish return
Jusko came to the conclusion that selling Bitcoins would be like selling shares at Amazon: so far there has been no profitable sense.
"Each year, including this one, was reduced in two digits. Average peak to depression: 31%, twice 90%. When was the right time to sell? Never, "he said.
Earlier this month, Tom Lee Lee, co-founder of Fundstrat Global Advisors, predicted Bitcoin would recover when the S&P 500 reached its new highs.