Morgan Creek CEO and hedge fund veteran Mark Yusko says Bitcoin’s (BTC) rally to a six-figure price will happen at lightning speed.
In a Wolf of All Streets interview, Yusko says that Bitcoin is currently below its fair value of $50,000.
According to the hedge fund veteran, Bitcoin’s surge from its yet-to-be-reached fair value could start mid-next year driven largely by two factors.
“Now, we’ll go from that $50,000 to $100,000. And that $50,000 to $100,000, it’s probably going to happen really fast.
Why do I say that? Two reasons – one that’s what history tells us that fear of missing out kicks in. But this time, we got a massive tailwind.”
Bitcoin is trading at $41,175 at time of writing.
According to Yusko, investors started accumulating Bitcoin below its fair value towards the end of 2022 and they are still at it. On Bitcoin’s price action going forward, Yusko says that the flagship crypto asset will follow the patterns set during previous halving cycles.
“Now when we get to fair value at $50,000, what’s going to happen? The halving is going to occur. Well, then what happens? Well, we add a zero.
So if you go back to the first halving, we went from $10 to $100, then we went from $100 to $1,000. Then we went from $1,000 to $10,000. Now we’re going to go from $10,000 to $100,000. That’s a 10x growth of the network again, following this Metcalfe’s law curve.”
I
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: DALLE3
