Bitcoin News

Manager of Hedge Fund foresees robust times for Bitcoin

As the CEO of Morgan Creek Capital Management, Mark Yusko foresees a further rise in the acceptance of Bitcoin in the coming days. He has gone ahead and compared it to the value of gold.

According to him, following halving, there is an increased attraction related to the asset, with some folks seemingly missing out on it. As per his calculations, the fair value is presumed to be $75,000, further propelled by the halving and simultaneously traveling south from a value to the tune of $100,000. This is regarding fees related to transactions about Ordinals and inscriptions. In his opinion, it will, in all probability, reach the double of $75,000 due to the lower average and standing at $150,000.

As per Yusko’s understanding, the situation revolving around the pricing is taking place nine months following the halving, a factor that will occur on the 20th of April, 2024. He believes that one can expect a surge in demand, with the provision of fresh coins falling from 900 daily to half the amount. Further curves will appear by the end of 2024.

Yusko divulged that his fund makes investments of about 20% in liquid tokens. In the case of related stocks and businesses, however, it is more difficult to sell than the concerned assets at the present time. They are at the stage of evaluation, a factor difficult to digest. This concerns Bitcoin mining businesses, along with the makers of mining parts, which include AMD and Nvidia. At the top of Solana, Ethereum, and Avalanche stands Bitcoin.

Edward Nash

Edward Nash is an editor and analyst with over 10 years of financial market experience. Prior to joining CoinNewsSpan, he worked in several famous financial institutions. He has been active in the cryptocurrency market since 2011, specializing in technical analysis of current crypto trends and offering analytical opinion-based pieces.

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