Hedge fund manager Mark Yusko predicts that bitcoin will more than double this year to $150,000. He advises investors to have at least 1% to 3% allocated to bitcoin in their portfolios, calling it the dominant token and a better form of gold.
Bitcoin has seen a 159% increase over the past year, reaching over $73,000 earlier in March and currently trading around $70,700. Yusko believes it can easily increase tenfold over the next decade, citing the recent launch of bitcoin exchange-traded funds as a major bullish driver for the cryptocurrency.
He also mentions the upcoming bitcoin halving in late April, which cuts the mining reward in half to limit supply, as a potential catalyst for further price increases. Yusko expects the price to become more parabolic towards the end of the year, typically peaking around Thanksgiving or Christmas before entering a bear market.
Yusko’s firm also has exposure to Coinbase, a crypto online trading platform, which he believes has significant potential for growth. Coinbase’s shares have risen by almost 321% over the past 12 months.
Disclosure: Yusko’s firms own bitcoin, ethereum, gold, Coinbase, and Nvidia.
Hedge fund manager Mark Yusko from Morgan Creek Capital Management predicts that bitcoin will exceed $150,000 this year, more than doubling its current value. He advises investors to allocate at least 1% to 3% of their portfolios to bitcoin, which he believes is superior to gold. Yusko expects bitcoin to increase by 10 times over the next decade and attributes the growth to the recent launch of bitcoin exchange-traded funds and the upcoming bitcoin halving in April. He believes the halving will lead to a supply shock, resulting in significant price increases. Yusko’s firm also has exposure to Coinbase, a crypto online trading platform, as he foresees significant growth potential for the company. Yusko’s firms hold investments in bitcoin, ethereum, gold, Coinbase, and Nvidia.
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