Bitcoin Price To Explode Over 880%, Mark Yusko Says

It seems that there is still pouring with Bitcoin predictions these days. As expected, they are more than optimistic, and you can check out the latest ones below.

According to Mark Yusko, the founder, and CEO of Morgan Creek Digital, a crypto hedge fund, Bitcoin (BTC) has the potential to reach six figures.

In a recent interview with Wolf of All Streets, Yusko compared Bitcoin to gold and stated that if it is regarded as the digital version of gold, it could attain the same market capitalization as the precious metal.

This could lead to a price surge of 887%, taking it to $300,000 from its current levels.

It is reasonable to assume that the market cap of Bitcoin should be similar to that of gold. This leads to the belief that Bitcoin can be considered digital gold and serve as the base money.

If we round gold’s market cap to $12 trillion, we should consider that only half of it is actually used as a monetary base.

The other half comprises jewelry and other non-monetary items, which amounts to $6 trillion. This means that Bitcoin has the potential to increase tenfold from its current price of $30,000, reaching $300,000.

This is an easy estimate to make since Bitcoin is a superior store of value, unit of account, and more portable than gold.

For instance, if you want to send someone a bar of gold, you would have to break it in half and figure out how to send it.

However, if you want to send someone Bitcoin, you can do it with just a few clicks. Given all these factors, it is evident that Bitcoin is equivalent to gold as a store of value.

Regarding the time when Bitcoin could reach $300,000, Yusko says the following:

“Now when? Tomorrow? Next day? I don’t care. Sometime in the future. That’s easy that $300,000 number.”