Mark Yusko, the Founder, CEO and Chief Investment Officer of SEC-registered investment advisor Morgan Creek Capital Management, LLC, shared his thoughts on $DOGE and $SHIB in a recent interview.
According to a report by The Daily Hodl, during an interview for the “Blockworks Macro” YouTube channel, Yusko said:
“Every day I have to live with this, where I say the bear market in crypto will be over when DOGE and SHIB go to zero. They never got to zero. In fact, they’re going up again. And there’s no there, there. And the only there is the people who say: Well, you better watch out if they actually find a use case...
“What’s the value? What’s the underlying value? Could you turn it in to somebody to get something? Nope. At least Amazon … they generate profits and cash flow. They have found a way to produce return…. Ok, so if I had a share of that company, I could give it back to the company and I would actually get something for that. But a meme stock or a meme coin? There’s no value.“
As of 7:555 p.m UTC on 12 February 2022, $DOGE and $SHIB are the 9th and 12th most valuable cryptoassets with marketcaps of $11.22 billion and $7.87 billion respectively.
According to data from TradingView, in the year-to-date period, $DOGE and $SHIB are up 19.80% and 63.56% respectively.
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