Morgan Creek Capital head predicted bitcoin to rise to $250 000
Mark Yusko believes that the current low price of bitcoin is a lie
18.12.2021 - 09:15
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What’s new? Mark Yusko, chief executive and investment officer at Morgan Creek Capital, is confident that the value of bitcoin will be $250 000 within the next five years. He believes that the current low price of bitcoin is a lie. He told this in a video interview with Forkast.News.
The Forcast.News video interview
“It’s interesting that in the short run, when prices fall, as they have in the last few weeks, people start to get a little antsy and start to question these long-term trends and fundamentals.”
What is Yusko's view? He attributes bitcoin's fall to the launch of a series of the US exchange-traded funds (ETFs). In the last 30 days, the price of BTC has fallen by more than 22%. The predictions that the value of the first cryptocurrency will reach $100 000 by the end of the year are starting to look overly optimistic. As for the real value of bitcoin, the truth lies in gold, Yusko said, arguing that fiat currencies can hide changes in real value.
“If you look at US stocks, you see new all-time highs. That’s because we denominate in a depreciating asset — the dollar.”
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