Here’s how Bitcoin could hit $ 250,000, according to Mark Yusko

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Alex Dovbnya

Mark Yusko Explains How Bitcoin Could Reach $ 250,000

Morgan Creek’s Mark Yusko explained the rationale for his prediction of $ 250,000 in Bitcoin during his recent appearance on CNBC’s “Power Lunch”.

He told Melissa Lee, the show’s longtime host, that the best cryptocurrency would be able to hit this knockout price if it hit the gold level:

The $ 250,000 figure didn’t just come out of the blue. It is the equivalence in gold, the monetary value of the equivalence in gold.

Yusko said the total market cap for gold is around $ 10 trillion. While jewelry and other industrial use cases are responsible for about half of that, the other half is the dollar value of the shiny metal.

The US hedge fund manager estimates that Bitcoin will “easily” hit gold in the next four years, which will translate to around a quarter of a million dollars per coin.

After recovering to the $ 60,000 level on Sunday, the flagship cryptocurrency is heading south again, dipping to an intraday low of $ 55,870 earlier today on the Bitstamp exchange.

Bitcoin hit an all-time high of $ 69,044 on November 10.

Last month, Yusko backed up his bullish thesis by highlighting Bitcoin’s finite supply which is capped at 21 million coins:

We know every day for the next 140 years how many bitcoins will be minted during the mining process.

In 2019, Yusko predicted that Bitcoin could reach $ 450,000 in the long run.

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