The head of Morgan Creek Digital cryptocurrency investment company, Mark Yusko does not lose confidence in the bright future of Bitcoin and cryptocurrencies.
In an interview on CNBC, he stressed his confidence that over the course of 10 years the price of Bitcoin will rise 20 times.On the Fast Money program, Yusko admitted that he was wrong about the impact of futures on the price of Bitcoin. Previously, he believed that since the calculation of futures is in fiat money, they are not able to put pressure on Bitcoin.
He also noted that a growing number of people see Bitcoin as a means of preserving value, so the future of the first cryptocurrency is very positive. During the 10 years, Bitcoin can grow 20 times. Yusko stressed that at the moment there is no other asset with the same capabilities as Bitcoin.
Yusko said that since Bitcoin is a network, it is impossible to predict what growth will be next year. This is not a company, so Bitcoin does not pay attention to bank rates, economic growth and other factors affecting traditional companies. However, Bitcoin is influenced by actions of regulators, technological changes and other factors.
Recall that at the end of 2017, Yusko predicted a rise of Bitcoin prices to $ 400,000. Then he explained that starting in 2011, he was faced with the term "Bitcoin" more and more often, and this indicates that the cryptocurrency is on the right track. However, according to Vinny Lingham over the next three to six months, the price of the first cryptocurrency is unlikely to go beyond $ 3000- $ 5000.