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Mark Yusko: “People who are watching the daily price of Bitcoin are really missing the whole point.”

Mark Yusko: "People looking at the Bitcoin daily price (BTC) really miss the point."

Mark Yusko, CEO of Morgan Creek Capital, called Bitcoin (BTC) a “chaos hedge or schmuck insurance” in an interview with CNBC Fast Money on August 14.

Every investor should have Bitcoin (BTC).

Yusko made the remark while explaining the folly in paying too much attention to the daily price movements of Bitcoin (BTC).

The interviewer noted that people have paid much attention to the recent bull run of Bitcoin (BTC) and a clear correlation with the global unrest.

Because the unrest seems to have worsened and the price of Bitcoin (BTC) has also gone down, “should we now throw that narrative out of the window, or at least table it?” she asked. Yusko replied that the daily price of Bitcoin (BTC) is not the point.

“People who are watching the daily price of Bitcoin are really missing the whole point. The whole idea of ​​Bitcoin is that it is a storage of value”. He said: “It is a chaos hedge or schmuck insurance, as I like to call it”.

He suggested that people should look at long-term trends, emphasizing that it is better to “own” part of the network, in the form of Bitcoin (BTC).

Yusko suggested the role of Bitcoin as a counterbalance to traditional financial markets and advised: “You want to hedge 1, 2, 3, 5% of your assets in this asset against all the problems we see in the fiat and stock markets.”

This supports Yusko’s own comments in May that Bitcoin (BTC) should be in the portfolio of every investor. His suggestion of a 5% investment in Bitcoin however, is hugely conservative compared to Morgan Creek Digital founder, Anthony Pompliano, who recently revealed that more than 50% of his assets are in Bitcoin.