Bitcoin has dropped by over 80% in 2018, and the cryptocurrency markets have lost hundreds of billions in market capitalization. The bearish sentiment is clear – however, many in the cryptocurrency community view this phase as simply the calm before the next big cryptocurrency bull run.

Morgan Creek Digital certainly appears to be bullish. The crypto management firm is meant for institutional investors, and is putting a twist on a wager made by Warren Buffett. For those that don’t remember, Buffett famously bet that an index fund would outperform hedge funds in ten years. He made the bet in 2007, and was proven right in 2017.

Morgan Creek Digital offers a crypto index in partnership with Bitwise Asset Management. For some context, the index is 77.4% Bitcoin, 11.1% Ethereum, and the rest involves altcoins. The firm is betting that the index will beat out the S&P Index over the next 10 years, and is willing to put up $1 million for the bet. The firm has stated that the wager is funded by its “partners”.

One of the founders of Morgan Creek Digital is Anthony Pompliano, one of the most active and well-known cryptocurrency enthusiasts on Twitter. He often updates his followers on developments involving blockchain and cryptocurrency markets, and even writes a daily crypto newsletter titled “Off the Chain”. He boasts over 170,000 Twitter followers, as well.

Pompliano recently appeared on CNBC to speak on the fact that institutional investors are moving into the cryptocurrency markets, and that retail traders are getting “washed out”. About Bitcoin, he stated: “We’ve been pressing into it the whole way down. We’ve got very deep conviction in this over a long period of time.”