Mark Yusko, CEO and co-founder of Morgan Creek Capital Management, is very optimistic about bitcoin. Despite a period of consolidation, Yusko expects this leading crypto asset to gross $250,000 in five years. In a recent interview, he said that the network continues to swell “exponentially”.
Morgan Creek CEO Predicts Bitcoin Price To Hit Six Digits
The founder of Morgan Creek has once again reiterated his prediction that bitcoin (BTC) will surpass the six-figure value in the next five years. In the May 6, 2022 interview, Yusko estimated that bitcoin could easily reach $100,000 in 2022 or 2022. Moreover, during the discussion, Yusko also emphasized that the bitcoin price could reach $400,000 to $500,000 as well.
During an interview this week with CNBC’s Trading Nation, Morgan Creek’s Mark Yusko explained that he believes investors are “ignoring and underestimating” leading crypto assets.
“It’s just about network adoption and increased usage,” Yusko said this week. “This is an exponentially growing network. This is the fastest network in history at one trillion dollars, right after FAANGS which took, you know, 15 to 20 years depending which one you look at. ”
Yusko Morgan Creek co-founder Anthony Pompliano also said he was confident BTC would hit $100k. Pompliano recently interviewed popular Youtube investor Andrei Jikh, explaining the basics of his prediction to his 1.52 million subscriber Jikh.
Yusko Strongly Believes in Digital Gold Theory
Yusko’s fundamentals are based on the equity of the gold market, which CNBC estimates at around $4 trillion. If digital gold can capture a very large percentage of the global gold market, Yusko asserts BTC can reach $1 million per unit.
“What people miss is that this is a technological evolution of computing power that won’t go away,” Yusko stressed to CNBC’s Trading Nation. Yusko further added:
It is a powerful computing network that will become a valuable base layer protocol for the Internet.
Yusko’s BTC price forecast isn’t that different from venture capitalist Tim Draper’s prediction, although it’s a little longer. Draper predicts that bitcoin (BTC) could be $250,000 by 2022. People are looking at Draper’s forecast because he correctly predicted the price of bitcoin will surpass $10,000 per coin in 2018.