Dogecoin is on everyone’s lips, but the future belongs to Bitcoin, Morgan Creeks chief investor and CEO Mark Yusko is certain.
Mark Yusko, CEO of the investment company Morgan Creek Capital Management, has little interest in the current dogecoin hype. For him, the Memecoin is one of thousands of “useless” utility tokens which – unlike Bitcoin – are doomed in the long term.
There is room for a few logs to survive but there are thousands of coins and Doge is in this category that are really useless, they are just utility tokens that have no underlying value or use case and they will eventually go away
, so Yusko most recently in an interview with the US news broadcaster CNBC.
Bitcoin on the trail of FAANG
Naturally, Yusko’s outlook for the industry leader Bitcoin is much more bullish. Yusko believes that a Bitcoin rate of US $ 250,000 is not only possible, but a question of time. The popular analogy between Bitcoin and gold provides the basis for its bullish price target. Measured against the market capitalization of the latter, which Yusko puts at four trillion USD, that would correspond to a Bitcoin rate of a quarter of a million USD. Specifically, Yusko gives his forecast a time horizon of four to five years. He does not shy away from a comparison with the top stocks Facebook, Amazon, Apple, netflix and Alphabet / Google (FAANG).
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This is a network and networks are growing exponentially. This is the fastest network in history to reach $ 1 trillion in value, just after FAANG stocks, which took 15 to 20 years depending on which one you look at,
, shows Yusko on the CNBC show “Trading Nation” convinced. For him it is clear that Bitcoin plays the same role as the Internet protocol TCP / IP. Similarly, Bitcoin will form the basis for the Internet of Values, Yusko believes.
When will BTC break the $ 100,000 barrier?
Of course, Yusko is not the first to predict a six-digit Bitcoin rate. Corresponding forecasts have not been uncommon in the crypto-verse since the Bull Run 2017 at the latest. Often the bullish looks in Bitcoin’s future refer to the stock-to-flow model of the Dutch crypto analyst PlanB.
It should go without saying that overly bullish forecasts – especially those with a date – should be treated with caution. For example, an interpretation of the stock-to-flow model had already predicted a Bitcoin rate of USD 250,000 for the past year. At $ 58,200, Bitcoin was trading almost at the previous day’s level at the time of going to press. Bitcoin is still a long way from the six-digit range that it should crack this summer according to Stock-to-Flow.