Bitcoin (BTC) Could Hit $500,000 – Morgan Creek Capital CEO Explains Why

There have been tons of Bitcoin-related predictions this year, and a lot of them were bullish.

Some even seemed too good to become a reality, and the one we’ll address below might seem one of them at least at first glance.

BTC to reach $500k

CEO of Morgan Creek Capital, Mark Yusko has an exponential prediction in the long run regarding the most important digital asset’s price.

The man said he believes BTC will hit $500k in the long run, The Daily Hodl reported.

During an interview with Bitcoin Magazine NL, Yusko talked about the underlying mechanisms of his bold prediction.

He said “…just Bitcoin-gold equivalence would be $7.4 trillion with a ‘T’ of market cap, which would mean a Bitcoin price of $400,000 to $500,000 per unit. Now, people say, ‘Well that’s ridiculous to talk about that.’ I’m like, ‘No it’s not.’ All big things start small. And all technology evolves over time.”

Yusko continued and explained that “So when the internet started in the early ’90s, nobody thought it was going to be important.”

Now, according to him, we are in the next phase of tech evolution, a point in which the blockchain becomes the operating system for the Internet of Things and a lot of connected devices.

At one point, he was asked when will BTC be able to surge that much, he said that “when big users start to say, ‘Hey, I want a portion of my fiat exposure to be hedged against a calamity in the financial system,’ that’s when Bitcoin, for example, can get very exciting.”

The next bull run could surpass the one in 2017

We recently reported that Tom Shaughnessy, the popular researcher in the industry and co-founder at Delphi Digital, said that the BTC recovery would lead to a bull run that will be more powerful than the one in 2017.

Read more in the previous article.

You May Also Like

Leave a Reply

Your email address will not be published.