Morgan Creek Capital Founder Mark Yusko Predicts Bitcoin Price Surge
Crypto readers, brace yourselves for a potential Bitcoin price surge! According to Mark Yusko, the founder of Morgan Creek Capital, two catalysts could propel Bitcoin to fresh all-time highs. Here are the key points:
- Bitcoin’s upcoming halving event could push its price to $100,000, making it the fair value.
- The approval of a spot-based Bitcoin exchange-traded fund (ETF) would further drive the price up.
- Yusko believes that speculation will occur after reaching $100,000, potentially driving the price to $150,000.
- A price increase to Yusko’s upper range target would result in a 410% rise for Bitcoin.
- An allocation of 1% of US financial advisors’ $30 trillion in ETFs to Bitcoin would have a significant impact on BTC’s price.
If advisors allocated just one-tenth of 1% to Bitcoin, amounting to $30 billion, it would already boost the price. However, if all advisors allocated 1%, which is not unreasonable given Bitcoin’s performance, the impact would be even more significant. With $300 billion flowing into Bitcoin against a free float of $100 billion, the price would experience a substantial rise.
In summary, Yusko believes that the upcoming halving event and the potential approval of a spot Bitcoin ETF could drive Bitcoin’s price to new heights, potentially reaching $150,000. Additionally, a small allocation by US financial advisors to Bitcoin could have a huge impact on its price.
Hot Take:
With the halving event approaching and the possibility of a spot Bitcoin ETF, the future looks bright for Bitcoin. Yusko’s predictions of a price surge to $150,000 may not be far-fetched, especially with the growing interest from financial advisors. Crypto enthusiasts should keep a close eye on these developments as they could significantly impact Bitcoin’s value.
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