Bitcoin News and Finance
Morgan Creek’s Mark Yusko Predicts Bitcoin Can Reach $250K in 5 Years Skip to main content

Morgan Creek’s Mark Yusko Predicts Bitcoin Can Reach $250K in 5 Years

Morgan Creek's Mark Yusko Predicts Bitcoin Can Reach $250K in 5 Years

Mark Yusko, Morgan Creek Capital Management’s CEO and cofounder, is extremely bullish on bitcoin. Despite a period of consolidation, Yusko expects the leading crypto asset to tap $250,000 in five years. In a recent interview, he said that the network continues to swell in an “exponential way.”

Morgan Creek’s CEO Sticks to His Six-Digit Bitcoin Prediction

The founder of Morgan Creek is again reiterating his prediction that bitcoin (BTC) will surpass six digits in value within the next five years. In a May 6, 2020 interview, Yusko predicted that bitcoin could easily reach $100,000 in 2021 or 2022. Moreover, during the discussion, Yusko also stressed that bitcoin’s price could reach $400k to $500k as well.

During this week’s interview with CNBC’s Trading Nation, Morgan Creek’s Mark Yusko explained that he believes investors “overlook and underestimate” the leading crypto asset.

“It’s just about network adoption and increased usage,” Yusko said this week. “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.”

Yusko’s Morgan Creek cofounder, Anthony Pompliano, has also said he believes BTC will reach $100k. Pompliano recently interviewed with the popular Youtube investor Andrei Jikh, explaining the fundamentals of his prediction to Jikh’s 1.52 million subscribers.

Yusko’s a Firm Believer in the Digital Gold Theory, Doge Is ‘Useless’

Yusko’s fundamentals are based on the equivalence of gold markets, which CNBC estimates to be around $4 trillion. If digital gold can capture a percentage of gold’s enormous global market, then Yusko insists BTC could make it to $1 million per unit.

“What people miss is this is a technological evolution of computing power that isn’t going away,” Yusko stressed on CNBC’s Trading Nation. Yusko further added:

It is a powerful computing network that is going to become the base layer protocol for the Internet of value.

CNBC’s hosts asked Yusko about the gains dogecoin (DOGE) and ethereum (ETH) have seen lately, and the Morgan Creek executive said only a few crypto assets will make it in the long run.

“Yes, there’s room for a couple of protocols to survive, but there are 1000s of coins and Doge is in that category that really are useless, they’re just utility tokens that have no underlying value or use case and they’ll eventually disappear,” Yusko insisted.

Yusko’s BTC price forecast is not too different from the venture capitalist Tim Draper’s prediction, albeit a bit longer out. Draper predicts that bitcoin (BTC) could be $250,000 by the year 2022. People look up to Draper’s forecast because he correctly predicted bitcoin’s price would surpass $10,000 per coin by 2018.

What do you think about Morgan Creek Capital Management’s Mark Yusko’s prediction? Let us know what you think about this subject in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory