The price of bitcoin has the potential of reaching $250,000 in the next five years, said investment firm Morgan Creek Digital’s founder and chief executive officer, Mark W. Yusko. In an interview with Yahoo Finance, Mr Yusko said it is possible for the price of bitcoin to reach $250,000 within the next five years, at a minimum.
Mark Yusko, the founder of investment firm Morgan Creek Capital Management, recently made a bold prediction in a recent CNBC interview. Yusko states that he expects the price of Bitcoin (BTC) to hit $250,000 in just five years’ time. This prediction comes despite the recent downturn in the crypto market that saw BTC lose upwards of 70% of its value since hitting an all-time high of $20,000 in December last year.
Mark Yusko, CEO and co-founder of Morgan Creek Capital Management, is very positive about bitcoin. Despite a period of consolidation, Yusco expects the leading crypto asset to reach the $250,000 mark in five years. In a recent interview, he said the network continues to grow exponentially.
Morgan Creek CEO maintains six-figure bitcoin forecast
The Morgan Creek founder reiterates his prediction that bitcoin (BTC) will surpass six figures in the next five years. In an interview on 6. In May 2020, Yusco predicted that bitcoin could easily reach $100,000 by 2021 or 2022. Also during the discussion, Yusko noted that the price of bitcoin could reach $400,000 to $500,000.
During an interview on CNBC’s Trading Nation this week, Morgan Creek’s Mark Yusko explained what he believes investors are overlooking and undervaluing about the leading crypto assets.
It’s about implementing the network and increasing its use, Jusko said this week. It’s a network, and networks grow exponentially. It is the fastest network in history to reach a trillion dollars in value, just after FAANGS, which took 15 to 20 years, depending on what you look at.
Anthony Pompliano, co-founder of Yusco at Morgan Creek, also said he thinks BTC will reach $100,000. Mr. Pompliano was recently interviewed on YouTube by famed investor Andrew Gih and explained the basis of his prediction to Mr. Gih’s 1.52 million subscribers.
Yusco firmly believes in the theory of digital gold, unnecessary
Yusco’s fundamentals are based on the equivalence of the gold markets, which have a value of about $4 trillion, according to CNBC. If digital gold is able to capture a percentage of the huge global gold market, BTC could reach the $1 million per unit mark, according to Yusco.
What people don’t realize is that this is a technological evolution of computing power that isn’t going anywhere, Yusco said on CNBC’s Trading Nation. Yusco also added:
It is a powerful computer network that will become the basic layer protocol of the Internet of Values.
CNBC hosts asked Yusko about the recent growth of Dogecoin (DOGE) and Ethereum (ETH), and the Morgan Creek executive said few crypto assets will be successful in the long run.
Yes, there is room for a few protocols to survive, but there are thousands of coins, and Doge falls into that category, that are really useless, they are just useful tokens with no underlying value or use case, and they will eventually disappear, Yusko stresses.
Yusco’s predictions for the price of BTC are not much different from those of venture capitalist Tim Draper, although they are a bit further apart. Draper predicts that bitcoin (BTC) could be worth $250,000 by 2022. People are scrutinizing Draper’s predictions because he correctly predicted that the price of bitcoin will exceed $10,000 per coin in 2018.
What do you think of Morgan Creek Capital Management’s Mark Yusko’s prediction? Let us know what you think in the comments below.
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