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$100,000 Bitcoin price prediction by Mark Yusko, chief executive and chief investment officer at Morgan Creek Capital Management.
“Between now and 2021, we’re likely to see $100,000 bitcoin,” Mark Yusko told business news outlet Business Insider.
“By 2025, we’re likely to see $250,000 Bitcoin, and then some time out, 2030, we could see $400,000 or $500,000 Bitcoin as it reaches gold equivalence.”
Yusko, who admitted he was previously skeptical of Bitcoin (BTC) and the underlying blockchain technology that it’s built on, pointed to the infancy of the technology as the reason behind his “hyperbullish” Bitcoin prediction.
“It really is about the growth mindset and focusing on the venture capital upside or the asymmetric upside of the asset at this point.”
The growth of the bitcoin network, which has expanded rapidly since bitcoin was created a little over 10 years ago, will help combat wealth inequality, according to Yusko, who oversees some $1.5 billion worth of assets at his U.S.-based hedge fund.
“The government and the elites want to have all the wealth, so they manufacture inflation and the wealth flows to top.
And that’s why we have the greatest wealth inequality in the history of mankind. Bitcoin helps solve that because now we can opt-out as an owner of assets from that fiat system.”
In other Crypto news today:
Peter Schiff thinks Bitcoin is a Ponzi scheme that struggles to find new buyers to inject fresh money into it. He replied to Anthony Pompliano’s tweet saying,
“It’s popular as a speculative asset, not as a currency. And its popularity there is no longer growing. Look at google trends. Running out of new buyers to keep the Ponzi going.”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.