Mark Yusko of Morgan Creek Capital Management stated recently that Investors [kryptowalut] make up [ich] long-term value and speculators influence the current price. “ He added that the so-called bad news about BTC they only impress speculators, not HODLers.
Mark Yusko: who are you in the BTC market?
On Friday, the president of Morgan Creek Capital Management commented on the latest wave of negative headlines in the media regarding Bitcoin. In a series of tweets, he stated that financial institutions are rightly concerned about Bitcoin’s destructive impact and will use whatever means they can to slow down its adoption.
– The normal response to the Bitcoin threat is “Raising barriers to adoption and innovation” – Yusko thinks. – When something threatens them, current operators always turn to governments to try to slow down the adoption of new technology through burdensome regulations – added.
However, it calms the fans blockchain. In his opinion, such a strategy in the long run is doomed to failure anyway.
However, he is right that speculators influence the BTC price in the short term. Now they have made it course cryptocurrencies fell slightly. Reason? Two news: China has taken over assets $ 4.2 billion worth of cryptocurrencies that investors have stolen from PlusToken scammers, and the fact that the US authorities want to regulate the digital currency market. While the information that the services of the Middle Kingdom confiscated such an amount of cryptocurrencies (and do not plan to give them back to PlusToken investors) had to be considered bad, the reports from the US are not so clear-cut. But Coinbase’s Brian Armstrong said the new Bitcoin regulations could be fatal for the market (and specifically for his company).
Yusko notes that breeding investors digital assets they do not care about such matters and therefore have a better chance of being financially successful in the cryptocurrency market.
– Long-term investors are value-focused, speculators are short-term price-focused investors He explained.
In fact, so far BTC has rewarded the patient. A decade ago it cost $ 1, today it is over $ 18,000.