Mark Yusko, founder of Morgan Creek Capital Management, predicts that Bitcoin's value will reach $250,000 within five years. In an interview with CNBC, which was reported by "Al Arabiya", Yusko stated that the key to this skyrocketing rise is that Bitcoin is more than just a store of value, and the cryptocurrency will not be ignored or underestimated by investors for long. He described it as the most profitable investment globally over the past six months!
Yusko added, "It's all about network adoption and increasing usage," noting that networks typically grow exponentially, considering it the fastest network in history to reach a value of $2 trillion. He explained that technology companies, known collectively as FAANGS, which include giants like Facebook, Apple, and Amazon, took 15 to 20 years to reach that level.
He based his $250,000 prediction for each Bitcoin on the gold equation. If the cash value of gold is $4 trillion, then digital gold should rise to that total, putting the price at a quarter of a million dollars per coin. He said, "What people are missing is that this is the technological evolution of computational power which will not disappear... It's a powerful computing network that will become the foundational protocol of the internet of value."
Despite Bitcoin's significant rise, it has ranked lower in increases this year, with Litecoin and Ethereum both seeing rises of over 100%, while Dogecoin surged over 13,000% in 2021. Bitcoin's price increased by 98% in 2021. It struggled last month, despite rising slightly over 2%.
