Mark Yusko, the founder of Morgan Creek Capital, recently shared his confidence in the digital asset industry and emphasized the importance of having digital assets in one’s portfolio. He highlighted that digital assets provide diversification benefits as they are not correlated with traditional financial assets.
Yusko also expressed his belief that the introduction of exchange-traded funds (ETFs) based on Bitcoin will reduce volatility and lead to higher prices. He stated, “I believe this will reduce volatility. I believe it will lead to much higher prices.”
In addition, Yusko shared an optimistic forecast for Bitcoin ETFs, suggesting that the total value of assets under management (AUM) could reach $300 billion. He explained that the ease of investing in ETFs, without the need for dealing with software or hardware, will attract more retail and advisory investors, contributing to the growth of AUM.
During Bitcoin Investor Day, Yusko further expressed his bullish outlook on Bitcoin’s future. He noted that following the recent halving, the cryptocurrency’s fair value increased from $50,000 to approximately $80,000. He expects Bitcoin to reach a new fair value of around $80,000, which will trigger the fear of missing out (FOMO) phase and drive further growth.
At the time of publication, Bitcoin was trading at $68,864.79, experiencing a 1.1% drop in the last 24 hours.
It’s important to note that the views expressed in this article are for informational purposes only and do not constitute financial or investment advice. Investing or trading cryptocurrencies carries a risk of financial loss.