March 4, 2024

Why the Bitcoin exchange rate will rise to $ 100,000 by 2021

Why the Bitcoin exchange rate will rise to $ 100,000 by 2021

Morgan Creek Capital Management CEO and Investment Director Mark Yusko is hyper-bullishon the prospects of bitcoin due to its characteristicsnetworks, roles as a means of accumulation, fundamental metrics of growth and the ability to confront material inequality in the world, writes Business Insider.

Yusko expects over the next decadea combination of these factors will push the Bitcoin exchange rate to $ 500,000, attract masses of investors in the cryptocurrency space and allow it to compete with gold in terms of capitalization.

“Blockchain and Bitcoin technology as the firstthe embodiment of this technology is still in its infancy, ”said Yusko, whose assets under the management of the company amount to $ 1.5 billion.“ The point here is to create an appropriate worldview and disproportionate opportunity for the growth of the asset at the current stage. ”

Yusko was initially skeptical aboutwith respect to the space of cryptocurrencies, however, as the information on technology and the potential was studied to establish the superiority of bitcoin over the traditional financial system, this investment began to seem more and more viable to him, notes Business Insider. Over the years, Yusko has turned from a skeptic into an investor who has decided to go all-in.

“The key to Bitcoin is its network. It grows in proportion to the inverse sum of squares of the number of participants. This is Metcalf's Law. ”- he declared.

Yusko notes that the number of wallets withthe positive balance grows during each year for 11 years along with the number of transactions, while the minimum price of bitcoin remained above the previous values ​​for 10 years.

“All the fundamental indicators of network value are growing, growing exponentially,” he added. “It turns out a parabolic growth curve.”

CEO Morgan Creek expects Bitcoin will also help smooth out the world's material disparities:

“Authorities and elites want to control everythingwealth, so they create inflation, and wealth begins to flow upward. Bitcoin helps solve this problem, as the owners of this asset can exit the fiat system.

Bitcoin even surpasses gold. Between the current moment and 2021, we are likely to see $ 100,000 bitcoin. By 2025, we will probably see $ 250,000 bitcoin, and somewhere closer to 2030 we can see $ 400,000 or $ 500,000, while Bitcoin will be par with gold ”“He concluded.