Morgan Creek Capital plans to raise up to $500 million through the creation of a new hedge Fund focused exclusively on crypto currencies and investments in blockchain. This was announced by the founder and investment officer of Morgan Creek Capital’s mark Yusko (Mark Yusko).
“Morgan Creek believes that the blockchain will be one of the most powerful and valuable technologies that were developed in the era of digital technologies, and considers that the destructive force of the application of blockchain technology for all classes of assets will create great opportunities for investment,” said mark Yusko.
As he explained, to “fully take advantage of this compelling opportunity, Morgan Creek acquired Full Tilt Capital”. This venture company, which is also based in North Carolina, recently launched cryptocurrency Fund.
Anthony Pompliano (Anthony Pompliano), managing partner of Full Tilt, said that the new Fund may attempt to tokenservice property, debts and other types of capital to sell them to investors. Although plans will undoubtedly face some serious regulatory problems, he said.
If Morgan Creek will be able to attract new hedge Fund planned $500 million, this would amount to about 25% of the total assets under management of the company. And the creation of the Fund will be one of the largest cryptocurrency hedge funds.
Previously Mike Novogratz (Mike Novogratz) planned to launch a hedge Fund for scriptactive with a capital of $500 million, But then abandoned those plans and instead, successfully raised $250 million to create the first cryptocurrency merchant Bank.
The founder of Morgan Creek Capital — known supporter of crypto-currencies (in particular bitcoin). Previously, mark Yusko said that with a favorable scenario in the future 10 or more years, the price of bitcoin could reach $1 million a More conservative scenario assumed a price of $500 thousand. Moreover, the probability of the latter for 20 years Yusko ocenil 75%.
Later, he made another equally optimistic forecast that the price of bitcoin in the long term will reach $400 thousand in value.