Yusko Dumps Solana, Warns of Bear Market Ahead
Mark Yusko, founder and CIO of Morgan Creek Capital Management, revealed that he has sold almost all of his shares in Solana (SOL), calling it 'maybe the best investment I've ever had in my life'. The return was a staggering 1,000 times the amount invested, but Yusko didn't disclose the exact figure. He stated that Morgan Creek had initially invested through Multicoin Capital's first fund and sold 90% of their shares.
Yusko emphasized that his concerns about Solana are not fundamental but rather related to its governance structure, which he believes is 'kind of scammy'. He pointed out that users of certain tokens have no right to network fees, and that this issue also applies to Ethereum (ETH) and Uniswap's (UNI) governance tokens.
In an interview with the Crypto Banter podcast, Yusko discussed his views on the current market. He stated that the market is 'super, super overbought' after a recent short squeeze, describing it as 'still bear market action'. He predicted that Bitcoin will hit a cycle low around October 5, 2026, and estimated that its price could drop to around $60,000 before rising again.