{"id":121833,"date":"2020-11-28T01:30:00","date_gmt":"2020-11-27T22:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/negative-bitcoin-headlines-affect-speculators-not-hodlers-says-morgan-creek-ceo\/"},"modified":"2020-11-28T01:30:00","modified_gmt":"2020-11-27T22:30:00","slug":"negative-bitcoin-headlines-affect-speculators-not-hodlers-says-morgan-creek-ceo","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/negative-bitcoin-headlines-affect-speculators-not-hodlers-says-morgan-creek-ceo\/","title":{"rendered":"# Negative Bitcoin headlines affect speculators, not HODLers says Morgan Creek CEO"},"content":{"rendered":"

“# Negative Bitcoin headlines affect speculators, not HODLers says Morgan Creek CEO <\/strong>”
\n<\/p>\n

The motivation and time horizon for entering Bitcoin (BTC) will ultimately dictate whether investors succeed in this new asset class, according to crypto pioneer Mark Yusko.<\/p>\n

On Friday, the CEO of Morgan Creek Capital Management commented on the recent wave of negative headlines concerning Bitcoin. In a series<\/a> of tweets<\/a>, Yusko said financial institutions are justifiably concerned about Bitcoin\u2019s disruptive impact and will use whatever means they have to slow its adoption. <\/p>\n

The normal response to Bitcoin\u2019s threat is to \u201cerect barriers to adoption and innovation,\u201d Yusko said, adding:<\/p>\n

\u201cWhen threatened, incumbents always turn to influence of governments to try and slow adoption of new technology<\/a> through onerous regulation\u201d<\/p><\/blockquote>\n

Ultimately, this has been \u201ca losing strategy for centuries,\u201d he said. <\/p>\n

In the meantime, speculators seeking short-term exposure will continue to influence Bitcoin\u2019s price by reacting to headlines. They\u2019ve had no shortage of negative news<\/a> in recent days, with China seizing $4.2 billion worth of crypto assets and Coinbase\u2019s Brian Armstrong foretelling of potentially damaging Bitcoin regulations. <\/p>\n

However, he believes that investors with a longer time horizon are more likely to succeed as Bitcoin\u2019s fundamental narrative strengthens:<\/p>\n

\u201cInvestors are long-term holders focused on Value & Speculators are short-term holders focused on Price\u201d<\/p><\/blockquote>\n

Bitcoin holders are notorious for their low time preference, meaning they defer immedia<\/a>te gratification for long-term gain. In this case, the “long-term gain” is a paradigm shift in society\u2019s understanding of money. <\/p>\n

Bitcoin holders, or HODLers as they\u2019ve come to be known, app<\/a>ear to have strengthened their conviction amid the latest market melt-up. Case in point: 61% of Bitcoin\u2019s supply has not moved for over a year despite BTC being profitable for over 99% of its history. <\/p>\n

On the price front, Bitcoin peaked north of $19,200 last week. In the process, BTC\u2019s market cap ballooned to $352 billion;\u00a0a new all-time high. The asset is currently trading below $17,000 after a heavy correction on Thursday. <\/p>\n