Mark Yusko, founder, and CEO of Morgan Creek Capital Management has confidently made predictions, suggesting that Bitcoin will eventually be worth $400,000.
Investing guru Mark Yusko has predicted that Bitcoin will reach as high as $400,000 in the long term. As soon as the Chicago Mercantile Exchange (CME) made an announcement to add Bitcoin futures trading in the fourth quarter of 2017, the price of Bitcoin immediately soared, reaching all-time highs over $7,500.
The price of Bitcoin fell drastically after the cancellation of Segwit2x which made the potential investors anxious about the previous high priced predictions.
Despite lack of support from institutional banking naysayers, Mark Yusko, founder, and CEO of Morgan Creek Capital Management ($3.7 bln in assets under management) has confidently made predictions, suggesting that Bitcoin will eventually be worth $400,000.
He said, "This will change the supply and demand equation for banking. It is that big. I'm not surprised at all that bankers, financiers and Saudi Princes are coming out against it. This is a truly disruptive technology."
The investing guru made this prediction for the long term of the cryptocurrency while comparing Bitcoin to the Internet thirty years ago. According to him, bitcoin has the same capacity to ‘change everything.' He first purchased cryptocurrency in 2011 but regrets not purchasing more.
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