Mark Yusko: BlackRock's Filing Is a Turning Point for the Market to Go from Bearish to Bullish

Mark Yusko, founder and CEO of investment advisory firm Morgan Creek Capital Management, expressed some fears in an interview about handing over the keys to institutions. Yusko said Xapo, an institutional cryptocurrency custody vehicle acquired by Coinbase in 2019, could play a regulatory role. BlackRock will hold a large portion of U.S. crypto assets by then. If they own most of it, regulators could then shut down the Coinbase exchange as an unlicensed casino on SEC charges and hand over the Xapo unit to BlackRock. BlackRock's filing is a potential turning point for the market to move from bearish to bullish .

Yusko remains confident about the future of bitcoin , although he expects things to be chaotic for a while .