Mark Yusko, CEO of Morgan Creek Digital, who manages more than $ 100 million in capital and is known as one of the industry’s largest crypto funds, made striking statements about the cryptocurrency industry.
XRP and XLM Multi Center
Yusko first explained why they did not invest in XRP and XLM in the fund. According to the famous CEO, both cryptocurrencies are quite central and this poses a great danger to the fund. Stating that they are making Bitcoin investments with 80% of the fund, Yusko also stated that they have the crypto money they chose to invest in top 10 cryptocurrencies.
Despite this, Yusko stated that the future of many altcoins is not bright, and that many of them actually have no intended use. According to Yusko, the value of these cryptocurrencies, which have no service area or use and are defined as “shitcoin”, can reach $ 0 in a short time.
Underlining that 99% of these cryptocurrencies will eventually go down to zero dollars without exception, the CEO said that these are assets that were only released to raise capital and that the business with them is now over.