Mark Yusko, founder and CEO of Morgan Creek Capital, believes Bitcoin (BTC) will explode this year.
In an interview on the Thinking Crypto channel, Yusko said that BTC could rise to a price of at least $100,000 by the end of 2024.
“I think we hit six figures. I do these 10 surprises every year, and one of them is hitting six figures. It’s definitely an all-time high. It’s a number. It could happen within days.”
As for what drives Bitcoin’s price up, the hedge fund veteran says:
“Once people realize that these exchange-traded funds (ETFs) are taking more Bitcoin out of the market than is being mined every day, it will double or triple that after the halving. , it’s just a matter of supply and demand, meaning there’s a demand shock and there’s basic supply and demand.
So, a demand shock is occurring now.And in April there will be a supply shock from 900 Bitcoin. [mined] “From 1 day to 450. If you combine those two, the numbers go even higher.”
Some central banks eventually plan to include Bitcoin in their reserves, according to the CEO of Morgan Creek Capital.
“Yes, central banks will eventually adopt Bitcoin, just as central banks ultimately adopted Bitcoin. [Chinese] CNY [currency]. So initially, all central banks own gold. Gold is the basic layer of money and holds other currencies against each other as a store of value.
And in addition to that, they issue currency. So gold is your base layer. Bitcoin is digital gold. So at some point, smart people will say, “Here, I’ll put something in there.” ”
At the time of writing, Bitcoin is trading at $43,452.
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Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors should perform due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that transfers and transactions are made at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets. The Daily Hodl is also not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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