Mark Yusko: BTC Will Be Worth $500,000 By 2024
Billionaire Mark Yusko does not give up his forecast that by the end of the year the price of bitcoin will take new heights, and in 6 years it will completely soar to $500,000.
The head of Morgan Creek Capital Management, Mark Yusko, posted a tweet on July 26 in which he said that he did not abandon his March forecasts, in which he stated that by the end of 2018 one BTC coin would reach $ 25 thousand, and going many years ahead - to BTC will reach $500,000 by 2024.
In 2017, he stated that the bitcoin rate could reach $1 million, but added that it might not be in this decade.
At the moment, the price of BTC is going down again, this is associated with the rejection of the application for the listing of Bitcoin-ETF, which was submitted by the Winklevoss brothers to the SEC (Securities and Exchange Commission). But despite the pressure on the market, bitcoin has overcome its psychological threshold of $8,000, this weekend it was trading at $8,100-$8,200. Regarding recent price fluctuations, Mark Yusko said that this is just noise, since only control over the network is of great importance.
As a reminder, CityBlock Capital funded an initial funding round led by Morgan Creek Digital Assets. The Fund plans to create a new era investment company that meets today's requirements of the digital generation.
Despite the fact that cryptocurrency trading is losing its activity and bitcoin is going down, Fundstrat Global Advisors analyst Tom Lee assures that the whole situation on the crypto market is about to change and that the bitcoin rate will rise to $25,000.
One of the reasons for the strong confidence that Bitcoin will reach $25,000 is the introduction of traditional financial institutions and banks into the digital industry, in which they have already considered many financial opportunities. Tom Lee is also confident that the guiding climate around cryptocurrencies will intensify as better adoption rates are achieved and new ways are found to incorporate digital currencies into the traditional financial system.
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