The president of Morgan Creek Capital Management predicts that Bitcoin will soon compete with gold in terms of capitalization value. Cryptocurrency can cost up to $ 250,000 over five years.
The head of Morgan Creek Capital Management talks about the BTC rate
Founder and CEO of Morgan Creek Capital Management believes that the next Bitcoin market cycle could make the asset compete with gold in terms of market capitalization.
Mark Yusko, because we are talking about him, appeared in Trading Nation CNBC. He compared the dynamic development of BTC to the evolution of technology giants, companies such as Facebook, Apple, Amazon, Netflix and Google.
– This is a network, and networks are growing exponentially. It is the fastest growing network in history, worth a trillion dollars today. Stomps on the heels of FAANG (Facebook, Apple, Amazon, Netflix and Google), which has been growing, you know, 15 to 20 years, depending on which company you look at – He said.
Yusko’s price forecast is based on his assumption that Bitcoin will compete with gold in terms of “Monetary value” – a concept derived from a gold standard in which a country’s currency has a value directly related to gold.
If gold has a monetary value of $ 4 trillion, digital gold should rise to that amount – He said.
Yusko’s forecast suggests Bitcoin could cost at least $ 235,000 in the future.
BTC is the future
The manager also predicted that Bitcoin would become the primary protocol of the Internet by comparing cryptocurrency to TCP / IP – the standard protocol that allows computers to connect and share data over the Internet.
When asked about other cryptocurrency protocols or assets, such as Ethereum, Litecoin, and Dogecoin, which had hit their highest price levels in the last few days, he found there was room in the market for more such projects.
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