Cryptocurrency asset manager Morgan Creek Digital is betting $ 1 million that its crypto fund will outperform the S&P 500, calling the challenge Buffett Bet 2.0 to mimic the billionaire investor’s famous bet. The wager is expected to be taken by “someone who is bullish on the S&P 500, or someone who thinks cryptocurrencies are worthless or overvalued.”
Recreating Buffett’s Wager
Morgan Creek Digital is recreating Warren Buffett’s famous $ 1 million wager. However, “unlike the famous value-investor, Morgan Creek is betting against the S&P and placing its faith in the 10-year performance of cryptocurrencies,” Cnbc reported on Thursday.