Morgan Creek Capital Management CEO and Chief Investment Officer Mark Yusko predicts Bitcoin will more than double this year to $150,000. In an interview on CNBC's “Fast Money,” Yusko urged investors to “get off the ground” and allocate at least 1% to 3% of their portfolios to Bitcoin.
“Bitcoin is the king. It is the most dominant token. It is a better form of gold,” said Yusko, emphasizing the potential of BTC.
Yusko believes the “law of large numbers” will come into play and predicts that Bitcoin could easily increase tenfold over the next decade. He cites the launch of Bitcoin ETFs in January as a key bullish factor for BTC.
Yusko also expects the upcoming Bitcoin halving to cause a supply shock, resulting in another major upside for the largest cryptocurrency. The halving, which cuts the Bitcoin mining reward in half to limit supply, is expected to occur at the end of April.
“The big move will happen after the halving,” Yusko explained and added:
“It starts to become more parabolic towards the end of the year. “And historically about nine months after the halving, around Thanksgiving and Christmas, we see the peak in prices before the next bear market.”
*This is not investment advice.