Mark Yusko: Bitcoin Is a “Chaos Hedge, or Schmuck Insurance”

Morgan Creek Capital CEO Mark Yusko called (BTC) a “chaos hedge, or schmuck insurance,” in an interview with CNBC Fast Money on Aug. 14. Yusko made the comment while explaining the folly in paying too much heed to the daily price movements of BTC.

The interviewer noted that people had been making a big thing of BTC’s recent bull run and apparent correlation with global turmoil. As the turmoil appeared to have gotten worse, and Bitcoin had also gone lower, “should we now throw that narrative out of the window, or at least table it?” she asked.

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