Morgan Creek Capital founder and CEO Mark Yusko says Bitcoin (BTC)’s market cap will likely surge by more than 720% its current value in the coming years.
In a new interview on the Coin Bureau podcast, Yusko says he believes increasing Bitcoin adoption will boost the top crypto asset’s current $1.82 trillion market cap to $15 trillion.
“Ultimately, the market cap, the total market value of Bitcoin, will continue to rise. I will argue [it] will eventually hit gold equivalence and gold today is like $30 trillion, half of that is the monetary value, half of that is the industrial use and the jewelry and all the other value. But $15 trillion from kind of $2 trillion today, that seems pretty simple to me. That’s a no brainer…
Then do we become money for everyone? Does Bitcoin become the ubiquitous monetary unit globally in a future world that we probably all can’t really imagine yet? Yeah, it probably does. Then we’re talking about $120, $150 trillion, something like that. That’s a big number, but it won’t happen tomorrow, and it won’t happen next year. It’s going to take time. We are, I will argue, 10 years in to a 30-year adoption cycle. So we just finished the first early adopter cycle.”
Yusko says Bitcoin adoption will increase for several reasons, including currency debasement.
“Bitcoin is a better form of gold. It’s equally scarce and it’s more portable and more divisible… It’s just a better form of money, and money is different than currency. Currency is backed by fiat, backed by debt, and governments like it… but it’s fallible in that it can be taken away from you, and it is taken away from you every single day…
The governments are taking it away by printing more of this to fund their spending habits. I will argue Bitcoin in the short run might go down, but over the long run the response to that type of market correction will be more money printing, which means more value accreting to Bitcoin.”
Bitcoin is trading at $91,231 at time of writing, down 2.4% in the last 24 hours.
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