Mark Yusko: Bitcoin Is a ‘Chaos Hedge, or Schmuck Insurance‘

Cointelegraph | Aug 15, 2019 at 10:15 PM
  • Morgan Creek Capital CEO Mark Yusko called Bitcoin (BTC) a “chaos hedge, or schmuck insurance,” in an interview with CNBC Fast Money on Aug. 14.
  • The interviewer noted that people had been making a big thing of BTC’s recent bull run and apparent correlation with global turmoil.
  • Suggesting its role as a counterweight to traditional financial markets, Yusko advised: “You want to have 1, 2, 3, 5% of your net worth in this asset as a hedge, against all the problems that we see in the fiat markets and the equity markets”.