Mark Yusko, founder and chief investment officer of Morgan Creek Capital Management, is doubling down on his claim that Bitcoin (BTC) will reach highs of $400,000.
In a new episode of Altcoin Buzz, Yusko explains why he believes the world’s leading cryptocurrency will catch up to gold’s $8.4 trillion market cap.
“If we think about Bitcoin’s properties as digital gold – it’s a great store of value, it’s easily more divisible than gold, it’s more portable than gold…
If we come to gold equivalence, meaning the market cap of Bitcoin equals the market cap of gold which I think is perfectly logical, you could easily see that $400,000 to $500,000 price.”
But the Morgan Creek executive says that his prediction won’t happen anytime soon. Yusko estimates that Bitcoin will need seven to eight years to reach an $8.4 trillion market cap.
To take advantage of Bitcoin’s long-term bullish trajectory, Morgan Creek’s chief executive offers basic investment advice and says due to the extreme risk involved, people should only allocate a small portion of their portfolio to BTC.
“You should never buy any asset all at once… But you should buy a little bit of [Bitcoin] every day.
Dollar-cost [average]. Everyone should have one to three to maybe five percent of their portfolio in Bitcoin. It should be like gold as that store of value, that opt-out insurance, that protection against a total fiat meltdown.”
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, » Read Full Article «