When to Sell Bitcoin? 'Never'

Bitcoin is a buy and it has never been the right time to sell it, serial investment manager Mark Yusko has told mainstream media viewers.

Speaking to CNBC in an interview on Sept. 27, the founder, CEO & chief investment officer of Morgan Creek Capital Management compared Bitcoin's ten-year history to Amazon.

He was responding to concerns from regular cryptocurrency host Melissa Lee over the Bitcoin price, which fell below $8,000 on Thursday.

For Yusko, while the price of Bitcoin can go up and down, year-on-year growth gives a solid reason to buy and not sell it.

"All the indicators of the network and the network value are rising; the price of any asset fluctuates," he explained.

Examples included network hash rate, transaction volume and wallet numbers, all of which have continued their upward trajectory this year.

Yusko thus concluded that selling Bitcoin would be like selling shares in Amazon - so far, there has not been an advantageous point to do so.

"In every year, including this year, it's had a double-digit drawdown. The average peak-to-trough: 31%, twice 90%. When was the right time to sell? Never," he said.

Earlier this month, Fundstrat Global Advisors co-founder Tom Lee predicted Bitcoin would rally once the S&P 500 put in new highs.