According to the prediction of Morgan Creek Capital Management’s CEO, Bitcoin can be traded for more than $200,000 within the next five years. Bitcoin can give gold a run for its monetary value, provided Mark Yusko’s price prediction comes true.
Bitcoin has seen some ups and downs, yet it has been in the spotlight with a market capitalization of approximately $1.1 trillion. The price of Bitcoin has been observed to be over $58,000 at the moment and is likely to increase in the future. As per Yusko’s prediction, BTC could be traded for over $200,000, which is excellent news for Bitcoin investors and traders.
Bitcoin is the largest cryptocurrency in the world with growing potential and utility. Several popular names in business and other niches have invested in Bitcoin, which has had a positive impact on the digital currency. The value of BTC is expected to surge higher in the future, which is beneficial for existing investors and traders of crypto. This can also be an indication for people interested in Bitcoin to start investing, given the rising price and significance of cryptocurrency.
Basis for Yusko’s Prediction
Mark Yusko’s prediction regarding the price of Bitcoin is derived from his assumption that Bitcoin can exceed the “monetary value” of gold. According to the investment manager, if the monetary value of gold is $4 trillion then the value of digital gold should be as high, at least.
Yusko also compared the growth of FAANG (Facebook, Apple, Amazon, Netflix and Google) companies to the swift adoption of Bitcoin and stated:
“This is a network and networks grow in an exponential way. This is the fastest network in history to a trillion dollars of value, right on the heels of the FAANGs that took, you know, 15 to 20 years depending on which one you look at.”
Mark Yusko compared Bitcoin to TCP/IP (Transmission Control Protocol/Internet Protocol) and predicted that Bitcoin will soon become the base layer protocol for the Internet of value as well.
How is the Prediction Encouraging News for Bitcoin Investors and Traders?
The value of Bitcoin has been booming and is now recorded to be above $58,000. There are constant shifts in the market trends, however, Bitcoin has been quite resilient in keeping its place at the top. This is positive news for the people who have invested in cryptocurrency and also consider trading in the future.
With the increasing price of Bitcoin and its growing utility, there are high chances that BTC will remain at the top. This is encouraging for the existing crypto investors and traders, as well as for people who have been planning to invest in Bitcoin.
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