When to Sell Bitcoin? ‘Never’ — Mark Yusko Says BTC Like Amazon Stock

Must Read

Grayscale Files to Become The First Bitcoin Fund to Report to SEC

Publicly traded Bitcoin (BTC) fund Grayscale Bitcoin Trust (GBTC) filed Form 10 with the United States...

Opera-Backed Fintech OPay Seals $120M Investment to Grow Across Africa

Lagos-headquartered fintech Opay has sealed $120 million in a series B financing round from a host of...

Maker Launches New Dai Today, Expects to Phase-Out Old Dai in Months

Decentralized autonomous organization (DAO) Maker will launch a new type of Dai (DAI) stablecoin today. Known as...
- Advertisement -

Bitcoin (BTC) is a buy and it has never been the right time to sell it, serial investment manager Mark Yusko has told mainstream media viewers.

Yusko on Bitcoin: All indicators rising

Speaking to CNBC in an interview on Sept. 27, the founder, CEO & chief investment officer of Morgan Creek Capital Management compared Bitcoin’s ten-year history to Amazon

He was responding to concerns from regular cryptocurrency host Melissa Lee over the Bitcoin price, which fell below $8,000 on Thursday.

For Yusko, while the price of Bitcoin can go up and down, year-on-year growth gives a solid reason to buy and not sell it. 

“All the indicators of the network and the network value are rising; the price of any asset fluctuates,” he explained. 

Examples included network hash rate, transaction volume and wallet numbers, all of which have continued their upward trajectory this year. 

Betting on a bullish return

Yusko thus concluded that selling Bitcoin would be like selling shares in Amazon — so far, there has not been an advantageous point to do so. 

“In every year, including this year, it’s had a double-digit drawdown. The average peak-to-trough: 31%, twice 90%. When was the right time to sell? Never,” he said.

Earlier this month, Fundstrat Global Advisors co-founder Tom Lee predicted Bitcoin would rally once the S&P 500 put in new highs.

- Advertisement -
- Advertisement -

Latest News

11 Years Ago Today Satoshi Nakamoto Published the Bitcoin White Paper

Today, Oct. 31, marks eleven years since the publication of the Bitcoin white paper by the still-mysterious person or...
- Advertisement -

ArBinance is Changing the Crypto Arbitrage Game with the Click of a Button

ArBinance is a professional arbitrage trading platform that aims to revolutionize cryptocurrency trading by allowing its users to conduct crypto arbitrage through...

SmartMixer is Making Bitcoin Mixing Easier for a New Generation of Users

SmartMixer is Making Bitcoin Mixing Easier for a New Generation of Users SmartMixer.io is a new bitcoin mixing service especially geared toward...

Bitpanda goes global: Announcing the Bitpanda Global Exchange and the IEO for the ecosystem token BEST

Bitpanda goes global: Announcing the Bitpanda Global Exchange and the IEO for the ecosystem token BEST Vienna-based fintech Bitpanda...

Bitpanda digitizes physical gold and silver

Vienna, 13 May 2019 – Vienna-based fintech Bitpanda launches gold and silver trading for its 1 million users. The new...