Mark Yusko, CEO of Morgan Creek Capital, believes the price of the largest crypto on the market will rise to $250,000 within 5 years, CNCB reports.
According to him, the adoption of Bitcoin is similar to the development of large companies such as Facebook, Apple, Amazon, Netflix and Google, which reached a market capitalization of $1 trillion within 15-20 years, while Bitcoin has done it much faster.
In particular, he said:
"This is a network and networks grow in an exponential way. This is the fastest network in history to a trillion dollars of value, right on the heels of the FAANGs that took, you know, 15 to 20 years depending on which one you look at."
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The CEO of Morgan Creek Capital believes the price of Bitcoin could reach $250,000 if the asset competes with gold in monetary value:
"If gold’s monetary value is $4 trillion, then digital gold should move up to that total, a sum that puts the price at a quarter of a $1 million per coin."
However, Yusko is not a big fan of other cryptocurrencies. For example, he believes Dogecoin is useless:
"There are thousands of coins and DOGE is in that category that really are useless, they’re just utility tokens that have no underlying value or use case and they’ll eventually disappear."