Crypto Currency News

They project a bitcoin price above $ 250,000 by 2026

The Morgan Creek CEO stated that the key to bitcoin is to be more than a store of value.

Mark Yusko , founder and chief investment officer at Morgan Creek Capital Management , said this weekend that he sees exponential growth in bitcoin through network adoption, potentially rivaling the market capitalization of gold , which would drive it to touch $ 250,000 in the next five years.

The CEO of the investment management company claimed that the key to bitcoin is to be more than a store of value. According to Yusko, it was about network adoption and increased use:  “This is a network and networks are growing exponentially. This is the fastest network in history to hit $ 1 trillion, right after the FAANGs that took 15-20 years, depending on which one you look at. ”

See also  "One billion people will use Bitcoin by 2026"

The bitcoin market reached a value of USD 1 trillion in early 2021, 12 years after its creation, surpassing the FAANGs in time, an acronym to refer to the shares of the five largest technology companies in the world: Facebook, Amazon, Apple, Netflix and Google (now called Alphabet).

Yusko based his prediction on the equivalence with gold , which has a market capitalization of $ 4 trillion. If BTC reaches this level, that values ​​each coin at $ 250,000. “What people don’t realize is that this is a technological evolution that is not going to go away ,” Yusko said. “It is a powerful computer network that will become the Internet base layer protocol of value.”

See also  Goldman Sachs to offer crypto investment products to its premium clients
Tags
Back to top button
Close
Close