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The Daily Hodl
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Morgan Creek CEO Mark Yusko Says Bitcoin Will Climb to $400,000 As Cryptocurrency Steals Gold’s Thunder

by Daily Hodl Staff
May 9, 2020
in Bitcoin
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎

Mark Yusko, founder and chief investment officer of Morgan Creek Capital Management, is doubling down on his claim that Bitcoin (BTC) will reach highs of $400,000.

In a new episode of Altcoin Buzz, Yusko explains why he believes the world’s leading cryptocurrency will catch up to gold’s $8.4 trillion market cap.

“If we think about Bitcoin’s properties as digital gold – it’s a great store of value; it’s easily more divisible than gold; it’s more portable than gold…

If we come to gold equivalence, meaning the market cap of Bitcoin equals the market cap of gold, which I think is perfectly logical, you could easily see that $400,000 to $500,000 price.”

But the Morgan Creek executive says that his prediction won’t happen anytime soon. Yusko estimates that Bitcoin will need seven to eight years to reach an $8.4 trillion market cap.

To take advantage of Bitcoin’s long-term bullish trajectory, Morgan Creek’s chief executive offers basic investment advice and says due to the extreme risk involved, people should only allocate a small portion of their portfolio to BTC.

“You should never buy any asset all at once… But you should buy a little bit of [Bitcoin] every day.

Dollar-cost [average]. Everyone should have one to three to maybe five percent of their portfolio in Bitcoin. It should be like gold as that store of value, that opt-out insurance, that protection against a total fiat meltdown.”



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