Mark Yusko predicts that bitcoin will replace gold

Morgan Creek Digital hedge fund manager Mark Yusko said that bitcoin will eventually replace gold. The analyst also believes that the flagship cryptocurrency will reach six figures, and China will become the home of the next global reserve currency.

«There is only one money in the world: gold. Everything else is currency. Every central bank in the world owns precious metals. Some of them have less gold than before, as they have moved away from the gold standard and switched to the fiat standard,» the financial expert said.

Jusko emphasizes that bitcoin is already on its way to replacing gold, mainly «due to its excellent divisibility and portability.» In the long run, the expert believes that the BTC will reach $ 250,000.

«Bitcoin is superior to gold. If I had a bar and wanted to split it into three parts, I couldn’t slam it on the table and give everyone a third, it’s too hard to do. I can’t put it in my laptop and send it to someone But if I wanted to send a BTC, I would only have to press a few buttons. I could split the bitcoin into three parts and send them to anyone. BTC has advantages over gold in that it is more portable. I believe that over time, the main crypto asset will replace the precious metal,» Jusko emphasized.

Despite the fact that BTC is currently showing a slight increase (at the time of the news, the flagship cryptocurrency is worth $ 17,308, which is almost 2% higher than the previous day), market experts who previously showed favoritism for bitcoin BTC $56,459.08 Bitcoin -3.08% Market capitalization $1.11 trillion VOL. 24 hours $4.5 billion have become more cautious in their statements. For example, Galaxy Digital CEO Mike Novogratz has retracted his forecast of bitcoin’s value — the investor no longer believes that the Cryptocurrency will cost $ 500,000 in 5 years. Novogratz cited the collapse of the FTX crypto exchange as the reason for this — after all, all recent problems in the cryptocurrency market are related to the bankruptcy of Сем Бенкман-Фрід" href="https://noworries.media/biography/sem-benkman-frid/" data-bio-id="3697">Sam Bankman-Fried's company.