July 24, 2024
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Mark Yusko Says The Reason Bitcoin Could Hit $250,000

Mark Yusko

Morgan Creek’s Mark Yusko speaks on the reason Bitcoin will hit $250,000 during his recent appearance on CNBC’s “Power Lunch.”

Furthermore, Mark Yusko explains to Melissa Lee, the long-time host of the show. Then, states that Bitcoin will hit the mark once it gets to the level of gold.

“The $250,000 number is not just pulled out of the air….”
“That is gold equivalence, the monetary value of gold equivalence.”

More so, Yusko confirms that the total market cap of gold is about $10 trillion. Meanwhile, jewelry and other industrial use cases are responsible for about half of that sum. Of course, the other half is the lustrous metal’s monetary value.

Additionally, Mark Yusk thinks that Bitcoin will “easily” get to the point of gold equivalence within four years. Then, it will mean it’s equivalent to around a quarter of a million dollars per coin.

Recall, Last month, Yusko shows support for his bullish thesis by pointing to Bitcoin’s finite supply that is to 21 million coins,

“We know every day for the next 140 years how many bitcoin will be minted through the mining process.”

Lastly, Back in 2019, Yusko predicts that Bitcoin could hit $450,000 in the long term.

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