MARK Yusko is the founder of hedge fund Morgan Creek Capital Management and a supporter of Bitcoin.
But what is the story behind the investor?
Who is Mark Yusko?
Mark Yusko graduated with a bachelor’s degree in biology and chemistry from the University of Notre Dame in Indiana in 1985.
He then went on to study an MBA in accounting and finance at the University of Chicago.
Yusko worked at the University of Notre Dame Investment Office from 1993 to 1998, as an assistant investment officer and then as a senior investment director.
READ MORE ON 24/7 CRYPTO
Yusko then launched UNC Management Company for the University of North Carolina in 1998.
He was the company’s president and chief investment officer until 2004.
In 2004, Yusko founded Morgan Creek Capital Management – a hedge fund which currently manages more than $2 billion in assets.
Yusko is a supporter and vocal advocator of cryptocurrency and Web 3.0.
In May 2021, Yusko said Bitcoin would reach $250,000 in five years.
He said: “This is a network and networks grow in an exponential way.
“This is the fastest network in history to a trillion dollars of value, right on the heels of the FAANGS that took, you know, 15 to 20 years depending on which one you look at.”
Yusko believes Bitcoin is the gold standard and foundation of the cryptocurrency sector.
He believes only a few cryptocurrency assets will survive in the long run, saying: “So, yes, there’s room for a couple of protocols to survive, but there are thousands of coins and Doge in that category that really are useless, they’re just utility tokens that have no underlying value or use case and they’ll eventually disappear.”
He recommends his clients invest 1 per cent of their portfolio in Bitcoin and 3 to 5 per cent in blockchain startups that use the technology.
Yusko has also shared his optimism about the future of decentralized autonomous organization’s (DAOs): “The DAOs are a digital structure that allows us to migrate away from these historical legacy systems.
“And I absolutely think they will ultimately replace, but not very fast.”
In 2005, Mark Yusko set up The Morgan Creek Foundation which receives a portion of the profits of Morgan Creek Capital Management each year.
The Foundation gives grants to education and community-based, non-profit organizations.
In 2009, Mark Yusko along with his wife, Stacey, founded The Hesburgh-Yusko Scholars Program, which is a four-year, scholarship and leadership development program at University of Notre Dame.
The pair donated $35 million to support the programme.