Bitcoin to $500,000 in six years?
Mark W. Yusko, founder and CEO of Morgan Creek Capital Management. source: gettyimages[caption]
Mark W. Yusko, Edge Fund Manager, believes that the price of Bitcoin will hit $500,000 in six years. This week Mark took to his twitter account the reaffirm his position has a strong bullish investor in Bitcoin by outlining a very detailed sequence of price milestones that Bitcoin will break every year leading up to his half a million dollar price prediction.
Talking on twitter, the founder of Morgan Creek Capital Management, explained that Bitcoin will be hitting $25,000 by the end of 2018, $75,000 by 2020, $200,000 by 2022 and finally $500,000 by 2024.
Mark W. Yusko tweets about Bitcoin price going to $500,000 by 2024. source: twitter.[caption]
Mark believes that the daily fluctuation in the Bitcoin price is "just noise" and has put his money where his mouth is by making really long term investment in the blockchain technology. he says "all that matters is securing ownership of the [Bitcoin] network.
Since very late 2017 we have seen a number of mainstream investors taking interest in cryptocurrencies and the blockchain with the first Bitcoin future contract traded from December 10, 2017 to January 24, 2018 with Cboe, as well as the initial CME contract that expired on January 26, 2018. Since then we have also seen Coinbase, the most popular cryptocurrency exchange, launch their Coinbase Custody which they define as
"a digital asset custody for institutions."
Blockchain.com has also recently launched their platform to give institutional investors a chance to buy a stake in the cryptocurrency revolution. The new Blockchain Principal Strategies (BPS) platform will provide secure and “unparalleled” access to markets, services, and research for institutions, family businesses, and retail investors.
Mainstream investors are now definitely look in on cryptocurrencies which means, for the patient investors, it will surely be working out in the long run. Hold on to your hats and seats guys because it looks like we may be in for another bitcoin price take off very very soon.
Are you bullish or bearish on Bitcoin? leave your comments below.
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