Connect with us

Hi, what are you looking for?

Oracle of  Omaha SaysOracle of  Omaha Says

Editor's Pick

Mark Yusko Predicts Bitcoin At $150,000 In 2024

Morgan Creek Capital CEO Mark Yusko predicts the price of one Bitcoin (BTC) could reach $150,000 by the end of the year – more than double its current price.

In an interview with CNBC’s Fast Money on Saturday, the hedge fund manager argued that Bitcoin’s fair market value is currently $50,000, based on Metcalfe’s law – an equation for determining the value of a telecommunications network based on its number of users.

Mark Yusko’s Math-Based Bitcoin Prediction

After factoring in the upcoming Bitcoin ‘halving’ and increased transaction fees from Ordinals NFTs, that number rises to $75,000. Then, based on Bitcoin’s proclivity to rise to double fair value during a bull market, the asset could reach $150,000 over the next 12 months.

“The big move happens post-halving,” said Yusko. “It starts to become more … parabolic toward the end of the year. And, historically about nine months after the halving, so sometime toward Thanksgiving, Christmas, we see the peak in price before the next bear market.”

Yusko’s prediction matches that of Fundstrat analyst Tom Lee, who announced the same end-of-year price target in February. Both argued that the same two events would be major bullish catalysts for the asset’s price: the halving as a supply shock, and the introduction of U.S. Bitcoin spot ETFs as a demand shock.

The halving, expected to occur in mid-April, will reduce the number of newly created BTC in each Bitcoin block from 6.25 BTC to 3.125 BTC. This specific halving will make Bitcoin’s annual inflation rate lower than that of gold, which is the only asset that still tops BTC as the United States’ top ETF commodity.

“Bitcoin is the king. It is the dominant token. It is a better form of gold,” Yusko said, recommending that investors have a 1% to 3% Bitcoin allocation in their portfolios. Based on the “law of large numbers,” the investor believes the asset could still rise 10X.

NEW: “#Bitcoin is the king. It is the dominant token. It is a better form of gold,” says Morgan Creek Capital Management CEO Mark Yusko.

— Bitcoin News (@BitcoinNewsCom) March 31, 2024

Investments Besides Bitcoin

Yusko also argued that Bitcoin mining firms could be a good buy, though their especially strong run late last year has their valuations looking “a little toppy.”

Bernstein, who also predicted that Bitcoin will reach $150,000, similarly said that miners were a good buy last month, expecting institutional interest in Bitcoin equities to “finally tip over.”

Besides miners, Morgan Creek Capital is interested in other cryptocurrencies as well.

“We like things like Ethereum, we do like Solana, we do like Avalanche,” Yusko said. “I believe some of the smaller projects will go up orders of magnitude more.”

The post Mark Yusko Predicts Bitcoin At $150,000 In 2024 appeared first on Cryptonews.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Latest News

    A former Republican legislative candidate who traveled to Washington for former President Donald Trump’s ‘Stop the Steal’ rally was arrested Friday and charged with...


    Even as U.S. inflation broadly cools, frozen vegetable prices are hot. The average shelf price for frozen veggies rose by 18% in the past year...

    Latest News

    Abbe Lowell, Hunter Biden’s attorney, filed an ethics complaint Friday against Georgia Rep. Marjorie Taylor Green after she displayed censured nude photos of the president’s...

    Latest News

    President Biden has overruled the Pentagon and chosen Adm. Lisa Franchetti to lead the Navy, making her the first woman, if she’s confirmed, to...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024