If You Invested $1,000 In Bitcoin When Mark Yusko Said 'Buy It,' On TV, Here's How Much You'd Have Today
Portfolio Pulse from Chris Katje
Mark Yusko, CEO of Morgan Creek Capital Management, has been a Bitcoin advocate since 2018. In 2019, during a Bitcoin dip, he advised on CNBC to 'Buy it,' predicting its long-term value rise. Recently, he suggested a mid-2024 target of $100,000 to $150,000 for Bitcoin and a potential to reach a $5 trillion market cap. An investment of $1,000 in Bitcoin at the time of his 2019 CNBC appearance would now be worth $5,003.33, a 400.3% return, compared to a 71.6% return for the same investment in the SPDR S&P 500 ETF (SPY).
December 29, 2023 | 2:25 pm
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POSITIVE IMPACT
Mark Yusko's bullish stance on Bitcoin and his accurate past prediction could foster investor confidence, potentially influencing a positive short-term sentiment for Bitcoin.
Yusko's track record and recent bullish statements could lead to increased investor interest and a positive short-term impact on Bitcoin's price.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
NEUTRAL IMPACT
The comparison of Bitcoin's returns to SPY's in the article may lead investors to reevaluate their portfolio allocations, but SPY is likely to remain a core investment vehicle with a neutral short-term impact.
SPY is a broad market ETF and while the comparison to Bitcoin's performance is notable, it is unlikely to significantly alter SPY's short-term performance.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50