Bitcoin Could Experience Up to 410% Surge Due to Dual Catalysts, Anticipates Hedge Fund Expert Mark Yusko – Read His Analysis

Mark Yusko, the founder of Morgan Creek Capital, identifies two potential catalysts that might propel the price of Bitcoin (BTC) to achieve new all-time highs.

In a recent Kitco News interview, Mark Yusko, the founder of Morgan Creek Capital, highlights two potential catalysts that could drive Bitcoin (BTC) towards new all-time highs. He suggests that the upcoming halving event and the potential approval of a spot-based Bitcoin exchange-traded fund (ETF) could significantly impact Bitcoin's price movement.

Yusko anticipates a surge in Bitcoin's value due to the halving event. He explains, "Considering the halving, a fair value of $100,000 seems likely. As we approach the halving around April, May, or even June next year, $100,000 could represent fair value." However, he clarifies that the price might not simply stop at $100,000 but could experience speculative gains beyond that point.

Yusko emphasizes that the extent of this speculation hinges on the approval and timing of the spot Bitcoin ETF, as well as the adoption cycle and the influx of institutional capital. He predicts that the level of leverage may be lower this time around. In this context, he envisions Bitcoin potentially surpassing the $100,000 mark and reaching around $150,000.

As of now, Bitcoin is trading at $29,373. Achieving Yusko's upper-range projection would signify a substantial 410% increase from its current value.

Yusko underscores the influence of US financial advisors who manage $30 trillion through ETFs. A modest allocation of 1% to Bitcoin from this pool of assets could have a profound impact on BTC's price. He states, "Within the $30 trillion market managed by advisors using ETFs, even a conservative fraction like one-tenth of 1% amounts to $30 billion. Given Bitcoin's impressive performance over various time frames, such an allocation could move its price. Consider what might happen if the allocation were higher, like 1%... we're talking about potentially $300 billion being invested in a market with a $100 billion free float. That would result in a substantial, even massive, price increase."

Please note that the actual price of Bitcoin and market conditions may have evolved since the time of writing.

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Aug 12, 2023