Hedge fund manager predicts that the blockchain and cryptocurrencies like bitcoin will generate more wealth than the internet has so far ↺
It is no secret that the crypto boom over the last few years has produced many unexpected millionaires, but there are still investors who underestimate how much wealth can be built by investing in cryptocurrencies like Bitcoin (from US$5 on Amazon). A well-known and quite experienced hedge fund manager has now expressed his optimism and asserted that crypto and the blockchain will even generate more wealth than the internet.
This appears to be the opinion of Morgan Creek Capital CEO Mark Yusko, who has recently joined the crypto website CoinTelegraph for a video interview. As a part of the so-called "Web 3", cryptocurrencies and the blockchain will supposedly grow parabolically, also because this kind of financial business that is now conducted on the internet is much bigger than the types of lucrative businesses that the internet has created so far, which mostly consists of the media, information and e-commerce.
But Yusko also warns that before this growth spurt occurs, there are undeniable obstacles that the crypto market has to overcome first. As regulators try to control the fast growing crypto business, there may be a correction in the cards as these regulations are met with fierce resistance. As intriguing as Yusko's predictions are, these speculative forecasts and outlooks should always be approached with an appropriate amount of skepticism.
Disclaimer: This article is for informational purposes only and does not include any kind of investment advice.
Cointelegraph, Image: Michael Förtsch