Morgan Creek Capital CEO, Mark Yusko believes bitcoin is the best form of money.
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During an interview with Cointelegraph (video Below), Mark Yusko shared his thoughts on gold, bitcoin, and other cryptocurrencies.
In his opinion, over time, Bitcoin will “absorb” the market capitalization of gold, as a result of which the BTC rate will exceed $500,000. If we talk about the short term, then Bitcoin may reach $250,000, Yusko suggested.
He also spoke about the development of the Internet of values. He compared SMTP to Filecoin’s decentralized file storage and HTTP to Ethereum. In addition to file sharing and the application layer, other cryptocurrencies will also play a role in the gaming industry, content management, finance, and more according to Yusko.
Yusko said:
“We use TCP/IP data transmission protocols, we have simple SMTP e-mail protocol and HTTP hypertext data transfer protocol. The Internet of values will also be multi-layered, and bitcoin can become its baseline.”
Read: JPMorgan CEO Again Calls Bitcoin “Worthless”, Edward Snowden Respond
The CEO of Morgan Creek has long been known as a proponent of Bitcoin and believes that this cryptocurrency should be in the portfolio of every investor. Back in 2019, he called Bitcoin an effective hedge against traditional assets.
Read: Texas Senator Ted Cruz Proposes To Use Natural Gas For Bitcoin Mining
Earlier, the head of Morgan Creek Capital expressed the opinion that the bitcoin price this year could reach $100,000, but so far his optimistic assumptions have not been justified.
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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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