Morgan Creek CEO Mark Yusko: Bitcoin To Explode And Outrun Gold in 2023

Bitcoin just exploded in price, and the king coin raced above $18k, triggering massive excitement in the crypto space. Check out the latest exciting reports about the price of the most important digital asset.

At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $18,144.

Morgan Creek Capital CEO Mark Yusko is predicting that Bitcoin (BTC) and other cryptos are going to bounce back just like the tech sector after the dot com crash of the early 2000s.

In a new interview with Blockworks, he said that Bitcoin is likely to outperform gold this year after the king crypto collapsed in 2022.

“Gold is the ultimate arbiter of value [but] I think Bitcoin will have a better year than gold. [Bitcoin critic Peter] Schiff is going to be crying.”

Yusko compared the current market conditions for risk assets like Bitcoin and tech stocks to the dot-com bubble of the early 2000s, as the online publication the Daily Hodl notes.

Just like when markets crashed, and sentiment turned sour before rebounding hard back then, the fund manager said that something similar is likely brewing.

“I’m old. I lived through 2001, 2002. This is exactly, like exactly what happened in 2001 and 2002. Enron defrauded people. Tyco defrauded people. People were like, ‘Oh, this WorldCom. They will never be this Internet thing. It’s going to die, and Pets.com is stupid…”

He continued and said this:

“If you look at all the comparisons of the bubble that we just lived through to 2000, they all look the same. NASDAQ went up, and then it went down 84%. Peloton went up and went down, and Tesla went up and went down. Everything looks like this bubble chart…”

Stay tuned for more news, and make sure to keep your eyes on the market.