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Mark Yusko Remains Bullish on Crypto

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Tue, 4/06/2024 - 10:35
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Mark Yusko Remains Bullish on Crypto
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During a recent appearance on CNBC's Fast Money, Morgan Creek Capital Management founder Mark Yusko has stressed that everyone should have some digital assets in their portfolio. "They add diversification benefits. They are uncorrelated cause they do not derive their value from the same thing as traditional financial assets. 

Declining volatility  

Yusko is convinced that cryptocurrency volatility is going to decrease due to the introduction of Bitcoin exchange-traded funds (ETFs). "I think it will dampen volatility. I think it will lead to much higher prices," he said. 

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He has predicted that the total value of assets under management (AUM) of Bitcoin ETFs could reach $300 billion. 

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"If you think about $58 billion dollars of mostly retail and advisory money coming into this space…You don't have to deal with software, you don't have to deal with hardware, you just have to buy an ETF like anything else in your portfolio. I think that number goes to $300 billion," he added.  

A sky-high price prediction 

As reported by U.Today, Yusko recently predicted that the price of Bitcoin could surge to as high as $150,000 this year. 

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Even though Bitcoin reached a new all-time peak before halving, the investor believes that the flagship cryptocurrency could rally even harder this year based on historical data. 

Last week, top trader Peter Brandt forecasted that the price of the leading cryptocurrency could peak at $150,000 in 2025. 

Are commodities still cheap? 

Despite new highs virtually every day, commodities are at the cheapest price to paper assets that they have ever been. 

"You know, in the kid's game, paper beats rock. But in real life, rock beats paper. So, we favor commodities," he said.   

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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