News: Morgan Creek’s Mark Yusko Explains His $400,000 Bitcoin Price Prediction
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0:00:00 Morgan Creek’s Mark Yusko Explains His $400,000 Bitcoin Price Prediction
0:00:06 This update is brought to you by “CoinCheckup News Updates” and was originally published on “NewsBTC”.
0:00:12 Bitcoin’s gradually developing infrastructure could send its value to $400,000, according to Mark Yusko.
0:00:19 The Morgan Creek Capital Founder told BloxLive TV that the world’s largest cryptocurrency was perhaps a decade away from becoming a Digital Gold.
0:00:28 He explained that Bitcoin was gaining adoption in similar ways the yellow metal did over the gone centuries.
0:00:38 “Bitcoin is much easier to transport.
0:00:41 It is much easier to divide.
0:00:43 It is tough to break a bar Gold into its component pieces.
0:00:47 It was truly a pleasure interviewing @MarkYusko on @BloxliveTV .
0:00:52 Mark, thank you so much again!
0:00:54 Yusko envisioned a scenario where the Bitcoin network would inherit the entire Gold market valuation, which is around $7.3 trillion.
0:01:03 He then divided the yellow metal’s total market capitalization with Bitcoin’s total supply of 21 million units.
0:01:10 A rough estimate priced bitcoin at a rate of $400,000 per unit which, added Yusko, could as well be $500,000, given a portion of bitcoins were lost forever.
0:01:20 Yusko’s statements came at a time when prominent economists and legendary investors were sidelining bitcoin owing to its alleged lack of use case.
0:01:29 Billionaire investor Warren Buffett, for instance, called bitcoin “a gambling device” that sits there without producing anything useful.
0:01:36 American-Iranian economist Nouriel Roubini went a step further and called bitcoin “the mother and father of bubbles,” while recently debating billionaire bitcoin bull Mike Novogratz at the SALT 2019 conference in Las Vegas.
0:01:49 Thanks for watching this video!
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