Hedge fund manager Mark Yusko believes cryptocurrencies will generate “untold wealth”.
By laying the foundation for the Internet of Value (Web 3.0), cryptocurrencies and blockchain will generate more wealth than Web 1.0 and Web 2.0, said Mark Yusko, CEO of Morgan Creek Capital, in an exclusive interview with Cointelegraph.
“We haven’t even gotten to the parabolic part of Web 3.0 that is going to create massive wealth,” Yusko said.
In his career as a hedge fund manager, Yusko has reaped the rewards of investing in early Internet technologies. He got involved with cryptocurrencies in 2017 after realising their potential to drive the Internet of Value – a new iteration of the internet that will allow users to exchange value directly bypassing financial intermediaries.
Compared to previous versions of the internet, which revolutionised the commercial and media spheres, the “web of trust” – as Yusko called it – will generate exponentially more wealth.
“Financial services is much more than information, media and commerce,” he pointed out.
However, Yusko believes that before it enters a parabolic growth phase, the crypto industry will have to overcome opposition from traditional financial players and will likely face another major correction.
“The incumbents really don’t want the disruptors to win, they will fight really hard. They will throw up regulatory barriers – they will try to buy up companies and technologies,” – he said.
Watch the full interview with Mark Yusko on YouTube.
02-11-2021, Mr Advice TEAM