Mark Yusko: Bitcoin Will Reach Gold’s Market Cap & 1 BTC Will Be Worth $500k
The CIO of Morgan Creek Capital Management, Mark Yusko, just doubled down on his claim that BTC will reach $400k.
According to Mr. Yusko, BTC will eventually reach gold’s market cap of $8.4 trillion.
“If we think about Bitcoin’s properties as digital gold – it’s a great store of value, it’s easily more divisible than gold, it’s more portable than gold…” he explained.
“If we come to gold equivalence, meaning the market cap of Bitcoin equals the market cap of gold, which I think is perfectly logical, you could easily see that $400,000 to $500,000 price,” he continued.
But, according to Mr. Yusko, Bitcoin will need 7 – 8 years to reach the $8.4 trillion market cap.
Famous American hedge fund manager Paul Tudor Jones has invested in Bitcoin as a hedge against inflation, stating that “Bitcoin is undervalued relative to gold.”