Mark Yusko, founder and CEO of Morgan Creek Capital, said the market capitalization of Bitcoin (BTC) is likely to rise to more than 720% of its current value in the next few years.
In a new interview on the Coin Bureau podcast, Yusko said he believes increased adoption of Bitcoin will lift the top crypto asset’s current market cap of $1.82 trillion to $15 trillion.
“Eventually, the market cap, the total market value of Bitcoin, will continue to rise. I would argue that eventually it will reach parity with gold, but gold today is like $30 trillion, half of which is monetary value, half of which is in industrial use, jewelry and everything else. But going from something like $2 trillion today to $15 trillion seems like a no-brainer to me. That’s a no-brainer…
So will we be everyone’s money? In a future world that we all probably can’t really imagine yet, will Bitcoin become the ubiquitous monetary unit around the world? Yes, probably. Then we’re talking about $120, $150 trillion, amounts like that. This is a big number, but it won’t happen tomorrow or next year. It takes time. My point is that we are just 10 years into a 30 year adoption cycle. So we just finished our first early adoption cycle. ”
Yusko said Bitcoin will become more popular for several reasons, including a decline in the value of the currency.
“Bitcoin is a better form than gold. It’s equally rare, it’s easier to carry, it’s more divisible… It’s just a better form of money, and money is different from currency. Currency is backed by fiat, it’s backed by debt, and governments like it… But it’s wrong in that it can be taken away from you, and it’s taken away from you every day…
Governments are taking it away by printing more of it to feed their spending habits. I would argue that in the short term Bitcoin may fall, but in the long term the reaction to this kind of market correction is to print more money, which means the value of Bitcoin increases even more. ”
At the time of writing, Bitcoin was trading at $91,231, down 2.4% in the past 24 hours.
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