Business & FinanceSpotlight

Why No One Has Taken Morgan Creek Digital’s $1M Bet? Explains Co-founder & General Partner Jason Anthony Williams

Morgan Creek Digital is one of the well-renowned names in the digital assets arena. Quite recently, the firm made a bet that its Bitcoin-focused digital asset index fund will outperform the S&P 500 over the next decade.

The crypto world is very volatile and a crypto-focused index outperforming the stocks of the 500 biggest publicly traded U.S. companies is a very bold bet to make. But nobody has accepted this bet as of yet and no one has come out on the other side of this claim.

BlockPublisher got in touch with the co-founder and general partner of Morgan Creek Digital, Jason Anthony Williams, in order to get his perspective on this situation. Talking about this bet of bitcoin outperforming S&P 500 over the next 10 years, he said:

Look, bitcoin is beating the S&P in the last 10 years, it’s beating the S&P in the last five years, it’s beating the S&P in the last two years. I think that’s why no one’s taken our bet.

These remarks made by Jason seem to be pretty valid. If the past had been more supportive, traditional financial giants would have taken the bet instantly. Since the world of crypto & blockchain is still growing with developments being made with each passing day, this claim made by Morgan Creek Digital might hold true as we move into the future.

Adding on to his statements, Jason also said:

We made a bet that Bitcoin would outperform the S&P over the next 10 years, we put it out to professional bankers to take the other side of it, we got a lot of noise but, no takers.

Although a lot of noise is coming out regarding this bet with heavy debates going on around different social media platforms, no one is actually willing to take the bet. With this, Morgan Creek Digital seems to be on the right side of the scale.

Back in 2007, Warren Buffet also made a similar bet of $1M, but that was in the favor of S&P 500. Buffet won his bet in 2017. Now, this bet made by Morgan Creek Digital is being termed as the “Buffet Bet 2.0”. The bet was supposed to begin on January 1st, 2019, and end in 2029. Cryptos outperforming the stock market? We might be in for an interesting ride in the financial world. Hold tight.

SEE ALSO: SIM Swap Attacks Pose A Serious Threat to Your Hot Wallets & Crypto-Linked Accounts, Says Co-Founder & General Partner Morgan Creek Digital

Ahsan Khalid

News editor of BlockPublisher, an Electrical Engineer with majors in software development. I present forward my insight on the latest happenings of the blockchain world. All views on my articles are my own. Email: ahsan@blockpublisher.com or editor.news@blockpublisher.com

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.