Mark Yusko, the Founder, CEO and Chief Investment Officer of Morgan Creek Capital Management, says there’s no chance Bitcoin goes to zero after its price rally to over $60,000.
During an interview with Scott Melker for the latter’s “Wolf of All Streets” podcast, Yusko called the common refrain of Bitcoin “going to zero” an impossibility at this point.
He said:
“At $450,000 per coin, people are going to be freaking out, ‘Oh, you know, it has to go to zero from here.’ Zero is off the table. We’ve reached the network effect critical mass where this technology is here to stay. There are a lot of things it’s going to do beyond just the gold store of value use case… We’re taking a tradfi (traditional finance) world and an analog world that went to electronic and centralized finance, now we’re going to move to truly digital and a decentralized world which is just far superior.“
Yusko was also confident that Bitcoin could overtake the market capitalization of gold, predicting that the Bitcoin would in the future reach “about a half million dollars a coin“, which means a market cap of approximately $8 trillion.
Back in February 2020, during an interview on CNBC’s “Fast Money” show, Yusko said:
“The fundamentals continue to increase and improve. Adoption is growing: the number of wallets is up, the number transactions is up… All the trends — all the fundamentals really — continue to get stronger…”
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he views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a high risk of financial loss.
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Source: https://www.cryptoglobe.com/latest/2021/04/morgan-creek-capital-ceo-no-way-bitcoin-price-goes-to-zero-now-could-hit-500k/
