Crypto Fund Wagers $1 Mln It Will Outperform S&P 500 in ‘Buffett Bet 2.0’


Crypto asset manager Morgan Creek Digital has issued a $1 million bet against the performance of the S&P 500 stock market index.

Crypto-focused institutional asset manager Morgan Creek Digital has issued a $1 million bet against the S&P 500 (SPX) stock market index, a press release shared with Cointelegraph reveals Dec. 6.

The crypto fund has issued a wager that its Digital Asset Index Fund –– a basket of ten major crypto assets –– will outperform the SPX over the next 10 years, starting Jan. 1, 2019.

The S&P 500 is based on market capitalizations of 500 large companies that have common stock listed on major U.S. stock exchanges, the New York Stock Exchange (NYSE) or the Nasdaq Stock Market (NASDAQ).

The challenge from Morgan Creek Digital, dubbed “Buffett Bet 2.0,” evidently echoes a similar bet made by Wall Street’s prominent crypto critic Warren Buffett, who in 2008 bet $1 million that the S&P 500…



Read Full Story : Cointelegraph.com News

2018-12-06 18:35:00

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