{"id":94493,"date":"2018-12-06T08:59:58","date_gmt":"2018-12-06T16:59:58","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=94493"},"modified":"2019-11-07T02:53:29","modified_gmt":"2019-11-07T02:53:29","slug":"cryptocurrency-skeptics-challenged-1-million-bet-crypto-outperforms-sp-500","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/cryptocurrency-skeptics-challenged-1-million-bet-crypto-outperforms-sp-500\/","title":{"rendered":"Cryptocurrency Skeptics Challenged: $1 Million Bet Crypto Outperforms S&P 500"},"content":{"rendered":"

Morgan Creek Digital Assets issued a $1 million challenge that the fund\u2019s cryptocurrency index would outperform the S&P 500 over the next decade. Founded by Anthony Pompliano<\/a> and other crypto bulls, the challenge is the perfect opportunity for cryptocurrency doomsayers to \u201cput their money where their mouth is.\u201d<\/p>\n

In a press release today, Morgan Creek Digital Assets publicized a bet that the Bitwise index fund of cryptocurrencies\u2014including Bitcoin and altcoins\u2014would outperform the S&P 500, a capitalization-weighted index of 500 of the largest U.S. publicly traded companies.<\/p>\n

The bet is open to professional investors who either \u201cbelieve cryptocurrencies are worthless,\u201d or simply think that \u201cpublic equities would be a better investment over the next decade.\u201d<\/p>\n

The bet is a direct challenge to many in the community who have predicted the Bitcoin and other cryptocurrencies are a Ponzi scheme, a scam, or \u201cgoing to zero.\u201d<\/p>\n

For example, Bitcoin pessimist Nouriel Roubini<\/a>:<\/p>\n

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Now Bitcoin is again below $8K. Down 60% from its December peak. You HODLers : feel free to jump over the cliff to your financial meltdown…<\/p>\n

— Nouriel Roubini (@Nouriel) March 15, 2018<\/a><\/p><\/blockquote>\n