Bitcoin Could Reach $150,000 by 2024: Mark Yusko’s Optimistic Predictions

Mark Yusko, an experienced American investor and hedge fund manager, recently shared his expectations for the future of Bitcoin (BTC), the market’s leading cryptocurrency. Yusko is convinced that Bitcoin can reach the $150,000 mark later this year, a remarkable feat considering that the digital currency currently trades just above $70,500.

According to Yusko, who leads Morgan Creek Capital Management, Bitcoin will not only double its value but also solidify its position as the “king” of cryptocurrencies. In his words during an appearance on CNBC’s “Fast Money” program, the CEO and chief investment officer emphasized that “Get out of scratch”, encouraging investors to dedicate 1% to 3% of their portfolios to Bitcoin, which he compares to a superior version of gold.

This optimism is based on the impressive performance of Bitcoin, which registered an increase of approximately 159% compared to last year. After surpassing US$73,000 in March, the cryptocurrency stabilized in the US$70,000 range.

Yusko’s prediction for Bitcoin is not limited to this year; he sees tenfold growth potential over the next decade. One of the catalysts for this rise would be the Bitcoin exchange-traded funds, launched in January, and the upcoming Bitcoin halving, expected in late April. This event, which halves the mining reward to control the cryptocurrency’s supply, is seen as a trigger for a significant price increase.

The big change happens after the halving”, projects Yusko, anticipating a parabolic movement in the price of Bitcoin towards the end of the year. Historically, the price tends to peak around nine months after the halving, suggesting a possible price spike between Thanksgiving and Christmas.

Additionally, Morgan Creek Capital Management has investments in Coinbase, the online cryptocurrency trading platform. Yusko expresses excitement about the future of Coinbase, whose shares have already appreciated by almost 321% in the last twelve months.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.