Mark W. Yusko, co-founder of Morgan Creek Digital, made important statements about Bitcoin. According to Yusko, Bitcoin has suggested that it will keep its rise by tackling the long-term challenges it faces.
Expressing that he has participated in a program on CNBC, Mark W. Yusko thanked Brian Sullivan, with whom he was a guest, for his questions about Bitcoin. To justify his positive predictions about Bitcoin, he stressed that the Money Over Internet Protocol (MOIP) is one of the most important innovations, eliminating third parties in financial transactions.
Stating that the traditional financial system is afraid of this innovation, Yusko stated that efforts have been made to eliminate this threat through the government. This only causes fear and confusion in the short term, not in the long term, according to Yusko.
Yusko mentions China’s ban in 2017
Mark Yusko compared the current situation in Bitcoin when China banned BTC in 2017.
“Between January and September, BTC increased more than 4 times, from $ 1,000 to $ 4,500, and the rate of Bitcoin adoption was skyrocketing. China, on the other hand, tried to ban cryptocurrency exchanges, and Bitcoin fell to $ 3,600 with a 20% correction. Then, global speeches about the death of Bitcoin began to be made. “
Regarding the issue, Yusko also touched on the cryptocurrency restriction policy claims made by Coinbase CEO Brian Armstrong about the US Treasury Secretary Steven Mnuchin. According to the CEO, these claims act as a barrier to not accepting innovations by the current financial system.
“Bitcoin cannot be governed by states”
Stating that Bitcoin is a global, unlimited, decentralized network, Yusko stated that no state can manage Bitcoin. Stating that BTC continues to rise over time, CEO; He mentioned that investors make value-oriented and long-term investments, while speculators make short-term investments by focusing only on price.
He compared investment to shopping
“Investors create long-term value, while speculators determine the current price. Some price movements can be seen in periods of rapid change. When prices move down in response to the perceived threat, the following rule applies:
Investing is like people buying all the products in the store whenever something new goes on sale, and as the price goes down, people rush to other stores to buy more.”
Yusko’s best advice on this issue was “to stay in the store”. Emphasizing that the rumors about Bitcoin are not unexpected in the current situation, Yusko said that Bitcoin will continue on its way by dealing with all these negativities and said “Buy and HODL”.