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.”
