Bitcoin is expected to grow by 410%

Mark Yusko, CEO of Morgan Creek Capital Management, has shared his forecasts for the future development of bitcoin. In an interview with Kitco News, the top manager identified two main catalysts that, in his opinion, could raise the price of the main cryptocurrency by 410%.

Thefirst is related to the growing adoption of bitcoin by institutional investors. Jusko noted that as the number of such players in the crypto space increases, the demand for bitcoin will naturally grow. As a result, this will lead to an increase in its price.

Thesecond catalyst, according to Yusko, is bitcoin’s potential to become a global reserve asset. The CEO of Morgan Creek Capital believes that as countries continue to struggle with economic problems, there will be a shift to decentralized digital assets, so bitcoin will be massively adopted. This «shift» will be driven by the properties of bitcoin — limited supply and decentralized nature. The analyst is confident that this will make the first cryptocurrency an attractive alternative to traditional fiat currencies.

Jusko’s forecasts are in line with his previous bullish stance on BTC. In July, the analyst predicted that BTC could potentially reach a market capitalization similar to that of gold. At that time, the price of bitcoin would reach an impressive $ 300,000 dollars.

Drawing a parallel between bitcoin and gold, Jusko argued that bitcoin has a number of advantages over the precious metal, especially in terms of mobility and transactions. He humorously pointed out the impracticality of gold as a divisible unit. In contrast, transferring bitcoin, according to the analyst, is easy. Jusko then stated: «The advantage of bitcoin as a store of value is clear. Achieving a market capitalization equivalent to that of gold is not only plausible, but logical.»

Jusko’s belief in bitcoin’s potential remains unshakable. Although he recognizes the abstract nature of the timeline for bitcoin to reach its projected price, the executive is not interested in when exactly it will happen. He confidently remarked: «The $ 300,000 target for bitcoin is inevitable, whether it’s tomorrow or in the distant future.»