I always resist making hysterical predictions, but apparently trader Mark Yusko has no reservations.
“Bitcoin is much easier to transport. It is much easier to divide,” Mark Yusko.
Experts are currently staying off prediction of Bitcoin price following the crash witnessed in 2018. However, the founder of Morgan Creek Capital Mark Yusko in a recent interview said that he sees Bitcoin surging to $400,000 levels in the long-term. A figure that many have found unrealistic and crazy.
Yusko maintains that Bitcoin has the potential to unseat gold as well as remain the leading cryptocurrency. Besides, the recent trends suggest that millennials are preferring Bitcoin and other digital assets as opposed to traditional assets like gold and stocks. Yusko says:
“Bitcoin is much easier to transport. It is much easier to divide. It is tough to break a bar gold into its component pieces. Bitcoin has all these essential qualities that I think are superior to gold.”
Yusko is likely to have done simple mathematics to arrive at this prediction by dividing the total market cap of gold with the circulating supply of Bitcoin. However, Bitcoin will not hit this level in the next two years. It could take it even a decade to do so.
There are a plethora of crypto currencies, including Venezuela’s failed crytpo currency,. Maduro put the crypt in crypto currency..
I admit, Bitcoin has done better than Gold over the past month.
Bitcoin 30 day volatility is subdued over the past year.
Stranger things have happened.