Post
Topic
Board Bitcoin Discussion
Re: Morgan Creek CEO, Mark Yusko Commented: Don’t Sell Bitcoin
by
teosanru
on 28/09/2019, 04:24:54 UTC
The veteran investor of hedge fund, Mark Yusko has said that it is not the right time for sell and Bitcoin (BTC) is only showing a buy signal. Yusko gave this statement in an interview with CNBC on 27th September.

Read More: TheCoinRepublic
He retweeted a tweet which said Inflation is the biggest cause of wealth inequality in the world and BTC is a way out. He is a veteran investor thus I cannot really doubt his understanding of Cryptocurrency and it's impact on economy. But saying that inflation is the reason of unequitable distribution of wealth is just rubbish. Unequitable Distribution is due to lack of skill sets among a set of population and improper financial planning by them because what we are talking about is a capitalist economy and not a socialist one. People are themselves responsible if they are poor. Secondly BTC cannot be a way out because no way it is going to be equitably distributed infact it will just become a currency which everyone would love to hoard becuase you could buy something cheaper tomorrow so I would buy it tomorrow.

Coming to the point of selling bitcoin, Yes we all know the volatile nature of bitcoin. It skyrockets in a day or two and then is dumped in a day or two. So it's better to hold until you see clear signs of bearishness.