Mark Yusko highlights optimism about the industry and recommends investment in cryptocurrencies

Mark Yusko, founder of Morgan Creek Capital, expressed his confidence and optimism with the industry, highlighting in a recent statement the suggestion of investments in digital assets. In recent comments during CNBC’s Fast Money, Yusko highlighted that everyone should have some digital assets in their wallets.

“They add diversification benefits. They are not correlated because they do not derive their value from the same thing as traditional financial assets”, highlighted Yusko.

Emphatically, the founder of Morgan Creek Capital highlighted his belief that cryptocurrency volatility will decrease because of spot Bitcoin-based exchange-traded funds (ETFs). “I believe this will reduce volatility. I believe it will lead to much higher prices,” he emphasized.

“I think right now the most important thing in all of investing is discipline,” says @MarkYusko. He makes sense of the run in $NVDAmarket volatility and why he’s still bullish on digital assets: pic.twitter.com/ybYxTWmoKQ

— CNBC’s Fast Money (@CNBCFastMoney) June 3, 2024

Still on this occasion, Mark Yusko shared a very optimistic forecast regarding Bitcoin ETFs. The executive believes that the total value of assets under management (AUM) of the products has the potential to reach US$300 billion.

“If you think about $58 billion dollars of mostly retail and advisory coming into this space… You don’t have to deal with software, you don’t have to deal with hardware, you just have to buy an ETF like anything else in your portfolio. I think that number goes up to $300 billion,” he said.

Bitcoin Could Rise to $150,000 in 2024: Mark Yusko Predictions

Mark Yusko, founder of Morgan Creek Capital, previously expressed his bullish outlook on the future of Bitcoin (BTC) during Bitcoin Investor Day. Yusko, a recognized name in the hedge fund world, pointed out that following the recent Bitcoin halving, the fair value of cryptocurrency rose from $50,000 to approximately $80,000.

According to the investment expert, the market has not yet reached the FOMO (fear of missing out) phase, which is expected to occur when BTC approaches this new estimated fair value. “Fair value has doubled in each of the previous halving cycles. Now I don’t think it will double this time because now we have registration fees related to ordinals,” Yusko explained. He continues: “Instead of going from $50,000, where fair value is [antes da redução pela metade]to $100,000, I think we will probably get to $80,000, but we are still below $80,000, so when you start moving towards that new fair value after the halving, FOMO will kick in.”

At the time of publication, Bitcoin was trading at $68,864.79, marking a 1.1% drop in the last 24 hours.

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 or trading cryptocurrencies carries a risk of financial loss.