Bitcoin News

Will Bitcoin soon rival Gold by monetary value?

Will Bitcoin soon rival Gold by monetary value

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

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.

Monetary Value

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.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.