A brave forecast came from Mark Yusko, the Founder, Chief Executive Officer, and Chief Investment Officer at Morgan Creek Capital. He believes Bitcoin price can hit up to five hundred thousand dollars ($500k) in ten years.
According to Mark, the cost of Bitcoin might touch four hundred thousand dollars ($400,000) or even five hundred thousand dollars ($500,000) in a ten years’ time period as Bitcoin will touch the market capital of Gold.
Addressing the matter, Mark stated that, Gold has been treated as an inflexible currency for the past five thousand years. The current value of gold is approximately seven and a half trillion dollars $7.4 tr). Exceptional features of Bitcoin i.e. being the digital gold, easier transfer, and divisibility, etc. make it superior to gold.
He furthered that if we get the value amount equivalent to gold i.e. 7.4 trillion If divided by 21 million coins, $400,000 per coin will be obtained in a period of ten years.
The prominent investor also mentioned the latest Binance hack that caused the theft of approximately forty million dollars ($40 million) in BTC. He recommended it to be a bad thing. On the contrary, he also stated that things of value get stolen, hence approves value thesis.
Recent media news has been summarizing a grim likeness in the cozy action of Bitcoin during 2011-2015 and 2015-2019. The report adds that the crypto works on a four-year cycle due to Bitcoin halving taking place crudely every four years.
The advisory firm stated that if Bitcoin followed similar trends, it might slowly climb to its unprecedented high value soon.