Hedge Fund Manager Doubles Down on Bitcoin Prediction to $150,000
According to hedge fund manager Mark Yusko, Bitcoin's remarkable performance is just beginning.
Speaking on CNBC, the CEO of Morgan Creek Capital Management expressed optimism about the Bitcoin’s price, referring to it as “the dominant token” and “a superior form of gold.”
Yusko highlighted the typical post-halving surge in interest and investment in Bitcoin, often resulting in a doubling of its fair value during the cycle.
He estimated the fair value in this cycle to be around $75,000, with potential transaction fees from Ordinals and inscriptions affecting its potential value of $100,000. Considering reduced leverage this time, Yusko predicted a doubling to around $150,000.
He anticipated the price surge to occur approximately nine months after the halving, scheduled for around April 20. With the halving reducing the daily supply of new coins from 900 to 450, Yusko expected a more pronounced upward trajectory towards the end of the year, historically leading to a peak in price before the next bear market.
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Yusko noted that his fund allocates only about 20% to liquid tokens, finding related stocks and companies less appealing due to their high valuations.
He described Bitcoin mining companies and manufacturers of mining components, such as AMD and Nvidia, as having challenging valuation levels. He expressed favor towards other cryptocurrencies like Ethereum, Solana, and Avalanche, but emphasized Bitcoin’s prominent position in the market.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
