Mark Yusko, CEO of Morgan Creek Capital, has predicted that the price of one Bitcoin could reach $150,000 by the end of the year, more than double its current price. According to Yusko, Bitcoin’s fair market value is currently $50,000 based on Metcalfe’s law, with factors such as the upcoming Bitcoin halving and increased transaction fees from Ordinals NFTs contributing to a potential rise to $75,000. Yusko believes that Bitcoin has the potential to reach $150,000 over the next 12 months, as historically, the asset tends to double its fair value during a bull market, with the big move happening post-halving.
Yusko’s prediction aligns with that of Fundstrat analyst Tom Lee, who also expects the price of Bitcoin to reach $150,000 by the end of the year. Both analysts believe that the halving event, which is expected to reduce the number of newly created BTC in each Bitcoin block, as well as the introduction of U.S. Bitcoin spot ETFs, will act as major bullish catalysts for the asset’s price. The halving, set to take place in mid-April, will lower Bitcoin’s annual inflation rate below that of gold, positioning Bitcoin as a better investment option.
Yusko emphasized that Bitcoin is the dominant token and recommended that investors have a 1% to 3% allocation of Bitcoin in their portfolios. He believes that based on the law of large numbers, Bitcoin could potentially rise by 10X. In addition to Bitcoin, Yusko also suggested that Bitcoin mining firms could be a good investment, although their valuations are currently looking “a little toppy” due to a strong run late last year. Institutional interest in Bitcoin equities is expected to increase, according to Bernstein, who also predicted that Bitcoin would reach $150,000, leading to more interest in miners.
Apart from Bitcoin, Morgan Creek Capital is also interested in other cryptocurrencies such as Ethereum, Solana, and Avalanche. Yusko believes that some smaller projects could experience significant growth in the future, potentially increasing by orders of magnitude. With the cryptocurrency market continuing to evolve and gain mainstream acceptance, Yusko sees potential for various cryptocurrencies to see significant price increases in the future. Overall, Yusko remains bullish on Bitcoin and other cryptocurrencies, predicting further growth and adoption in the coming months.
