Hedge fund manager Mark Yusko predicts that Bitcoin will surpass $150,000 this year, more than doubling its current value. “Get off zero,” urged the CEO and chief investment officer of Morgan Creek Capital Management in an interview with CNBC’s “Fast Money” this week.
Yusko advocates for investors to allocate at least 1% to 3% of their portfolios to Bitcoin, emphasizing its superiority as a digital asset over gold.
Despite experiencing a 159% increase in the past year and briefly reaching over $73,000 in March, bitcoin was trading around $70,700 by Thursday’s market close.
Yusko foresees the potential for bitcoin to increase tenfold in the next decade, attributing this growth to factors such as the recent introduction of bitcoin exchange-traded funds and the upcoming bitcoin halving expected in late April.
He believes the halving will trigger a supply shock, driving further momentum for the cryptocurrency.
Yusko predicts that the most significant price movement will occur after the halving, with a potential peak in value towards the end of the year, historically following a pattern around nine months after the event.
In addition to bitcoin, Yusko’s firm holds stakes in the crypto trading platform Coinbase, expecting substantial growth opportunities for the company.
Coinbase’s shares have surged nearly 321% in the past 12 months.
