According to Morgan Creek Capital Management CEO Mark Yusko, a price of $ 200,000 can be seen in the next market cycle of Bitcoin (BTC) and can rival gold with its market cap. Yusko, who attended CNBC’s Trading Nation program on Sunday, compared the rapid adoption of Bitcoin (BTC) with the growth of companies such as Facebook, Apple, Amazon, Netflix and Google (FAANG).
Yusko: Bitcoin can rival gold
“It’s a network, and the networks are growing exponentially. This is the fastest network in history to reach a trillion-dollar value. It comes right after the FAANGs that took 15-20 years to grow. ”For Yusko, who uses the expressions, Bitcoin can rival gold with its market value . Yusko’s price prediction is based on the assumption that Bitcoin will rival gold with “monetary value”. Monetary value is a concept produced from the gold standard in which a country’s currency or fiat currency has a value directly linked to gold. Yusko uses the following statements: “If the monetary value of gold is $ 4 trillion, digital gold should rise to this total.”
BTC is trading at about $ 57,500at the time of writingand its market value is roughly $ 1 trillion. According to Yusko’s forecast, Bitcoin could be traded for at least $ 235,000 in the future. The investment manager likened Bitcoin to the TCP / IP standard, the standard protocol that allows computers to connect and share data over the Internet, and predicted it would be a core layer protocol for the “Internet of Values”.
Investment manager: DOGE is useless!
When asked about other protocols or cryptocurrency assets such as Ethereum (ETH), Litecoin (LTC) and Dogecoin (DOGE) that have reached all-time highs in the past few days, he stated that there is room for more. Stating that he is not a fan of DOGE, however, Yusko said:
”There are thousands of coins and DOGE doesn’t really work in this category. Tokens with no underlying value or use case only; eventually they disappear.”