"We think the crypto market is the beginning of a bull market," says Mark Yusko

18 Oct, 2018
by Richard Allen
News
We think the crypto market is the beginning of a bull market, says Mark Yusko

Following on the heels of Fidelity’s entrance into the crypto sphere, fund manager Mark Yusko is predicting that it could be the next booming market, Fox Business reports.

“We think that the equity markets are the beginnings of a bear market, we think the crypto market is the beginning of a bull market,” he told Fox Business’ Maria Bartiromo.

Fidelity entered the crypto industry on Monday with the announcement of Fidelity Digital Assets, which will store and allow the trading of digital funds for hedge funds, which, according to Yusko, suggests that institutional investors are beginning to see the potential of Bitcoin. “The institutional investors are coming for this asset and it is the first alternative asset really in my career that delivers on the promise,” he said.

Recap: Fidelity Digital Assets launches to bring crypto to institutional investors

Yusko argues that, despite skeptics and scams, cryptocurrencies will yield better returns.

“Love bitcoin—we think that is digital gold. Ultimately [it] may be a reserve currency,” he concluded.

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Read more about: Bitcoin (BTC)

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