The General Director of consulting company Morgan Creek Capital’s mark Yusko spoke at the summit, Digital Asset Summit. He shared with the audience a few simple, but quite controversial advice. One of them was the fact that now it’s time to sell the Amazon shares to buy BTC.
Yusko first heard about bitcoin in the early days of Bitcoin. He even offered his son to explore startups Coinbase and Xapo. However, as he later admitted, he just wanted it so her son took something away from companies Yusko.
Some time later in the process of investing in the then emerging Uber Yusko was found with one of the early Bitcoin investors Anthony Pompliano. After long negotiations he decided to hire Pompliano to the position of General Director in the young subsidiary company Morgan Creek Digital, which invests in blockchain products and working with this technology company. In October, Morgan Creek Digital has reported to the Commission on securities and stock exchanges that have collected in your blockchain Fund $ 61 million.
Most of the speech Yusko was devoted to the comparison of the first days of the Internet and the current technological development of blockchain and cryptocurrency. In 1996 Morgan Creek Capital invested $ 5 million to Sequoia, which used part of the money to preinvestigative to Google. According to him, at that time Google was the sixteenth popular search engine. No one then thought that the company has the best technology because no one knew how to work their “algorithm”.
Where to invest: expert advice
Over time, this investment turned into $ 200 million. Now Yusko believes that Web 2.0 is not the best way, if you plan to get rich.
It’s time to get rid of stock Amazon. Reproduites slowly, no one will notice. Just sell. Amazon is dead money, which after 10 years will cease to work for investors.
He argued that it will take decades to earn at least 10 percent of the profits from investments.
Thus, according to an experienced investor, Bitcoin is a much more attractive option. People should not worry about the scale of Bitcoin. According to him, it’s just a base layer breakthrough technology — about the same than TCIP was for the Internet.
And as soon as the technology will bring to mind, its value will soar.
The necessary conditions for the scaling will be created later on top of the first layer.
Technology will provoke the emergence of the greatest wealth in the history of mankind. Will be the first 10-trillion company, is the world’s first trillionaire, all will come in familiar frame. So what we do is fundamentally change the way we perceive value.
Consulting firm Mark Yusko all their customers giving one simple tip: everyone should keep at least a one percent savings in bitcoins.
According to Yusko, before proven technologies such as mainfram [large server installation with a large amount of resources — editor’s note], a microchip or even a personal computer, it’s been years. Therefore, it is likely that the next technological revolution will not happen before 2024. Around that time, will be developed “web of trust”.
Read on. Mark Yusko: Bitcoin will reach 500 thousand dollars in six years.
Soon we will need to confirm absolutely everything. This will help to make the blockchain. It can be used for images on the Internet for videos, for supply chains and for the registration of real estate. In the future all the world will have identification inside the “network of trust”.
While Web 3.0 is known as Internet money or Internet value — the next stage may well be considered a "web of trust". As he argues, today we can not trust the photos and video, because images can be "photoshop", and the video forge with the help of technology deptak. In turn, the true value of the blockchain to trust.
Enough of all this to turn the pioneers of the blockchain in the world’s richest people? Share your answers in cryptodata of hontarov.
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