- The Hedge Fund manager Mark Yusko cautioned investors to be ready for the slowdown almost once in their life. Yusko compares the great depression very close to the coronavirus ruined economy.
- During the rising global economic turmoil, the Bitcoin (BTC) investors are focusing on their funds.
- The day when Yusko cautioned the investors, the global infection rate beat one million.
The Hedge Fund manager Mark Yusko cautioned investors to be ready for the slowdown almost once in their life. Yusko compares the great depression very close to the coronavirus ruined economy.
The CEO and CIO of Morgan Creek Capital Management stated in a media report that the economic shock wave that will be an inverse of anything we have ever aware of, as it will be almost similar to the 1930s.
Meanwhile, the historic high banged by Dow Jones in February, the indexed had tumbled to 28% on the other hand, S&P 500 tumbled to 26% from its record level.
Bitcoin is an opportunity
During the rising global economic turmoil, the Bitcoin (BTC) investors are focusing on their funds. Some crypto traders are withdrawing their BTC from exchanges and moving it to their private wallets, bringing the amount of BTC to their lowest levels on exchanges.
Yusko further added it is not too late to cut losses as there are no chances of getting market recovered. As per Yusko, money is king and we are in a large bear market. He projected the dropdown of the market due to the global economic shutdown in order to fight against the COVID-19 pandemic will be calculated in years and quarters not in weeks and months.
The day when Yusko cautioned the investors, the global infection rate beat one million. The $ 1.7 billion assets holder Yusko notified that at the time there were chunks of stocks that are missing. This is specifically bearish over obliging companies and retail as well as consumer stocks.
Moreover, Yusko sees prospectors and developing markets attractive from the point of valuation along with cash. He also finds bitcoin as an opportunity which is a part of his holdings.
He says, this is an insurance against the diminishing financial system, but the government response towards currencies around the world is negative, especially with the western currencies. Thus, investors must have something that appreciates the value. Hence, according to him, Bitcoin will do it.
He believes that not all types of investment just made for its interest, the pension consultants remarks about their experience in Bitcoin investment and that will make most funds come to the knowledge that investing in Bitcoin is good.