After the Labor Department announced this week that the US consumer price index rose to 8.5% in March, the highest level in more than 40 years, inflation is back in the news. Mark Yusko, a Morgan Creek Capital founder and crypto industry veteran Mark Yusko, says price increases are not the problem.
“This isn’t inflation. In an exclusive interview with Cointelegraph’s Sam Bourgi, Yusko explained that this is currency devaluation. The currency devaluation directly affects consumers’ purchasing power. This refers to the number of goods and services that a unit can buy.
Yusko was also asked questions about Bitcoin’s (BTC), lackluster performance over six months, and whether he believes this phase of price discovery will continue indefinitely. Yusko believes that $100,000 BTC is possible eventually. However, investors should be patient as the adoption grows.
Yusko and Bourgi also cast doubt on traditional portfolio management strategies, which instruct investors to allocate 60% to stocks and 40% for bonds. Bourgi asked, “Who in their right minds is holding bonds right right now?” Yusko responded, “Only central bank.” His full explanation is worth the effort.
The full interview can be viewed on Cointelegraph’s YouTube channel. For all future updates and videos, make sure you hit the like and subscribe buttons. You can also view our complete lineup of interviews from Bitcoin conference.