Morgan Creek capital, the CEO said that BTC trade could reach $250k within five years. He firmly believes that Bitcoin’s next market cycle could see the most significant Gold as a rival. This happens by market capitalization and trading for more than $200,000.
Mark Yusko appeared on CNBC’s Trading Nation on 9th May. He made a comparison of the rapid adoption of Bitcoin to the growth of FANG companies. Moreover, the FANG companies are Facebook, Apple, Amazon, Netflix, and Google.
In addition, he said that Bitcoin is a network, and the networks grow exponentially. His price prediction based on his assumption that Bitcoin will rival Gold in terms of monetary value. However, the concept derived from the gold standard. Here, the Country’s currency or FIAT has a value directly linked to the Gold.
He also added that if gold monetary value is $4 trillion, then digital Gold should move up to that total. However, BTC is changing hands for roughly $59,000. In addition, Bitcoin’s market cap is approximately $1.1 trillion.
Thus, Yusko’s prediction suggests that Bitcoin could trade for at least $235,000 in the future. Moreover, the investment manager also predicted that Bitcoin would become the base layer protocol for any internet of value.
The Bitcoin or transmission control protocol/ internet protocol or TCP/IP is the standard protocol that allows computers to connect and share data across the internet.