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Mark Yusko remains bullish on cryptocurrencies
Alex Dovbnja
Morgan Creek Capital Management Founder Mark Yusko Expects Bitcoin ETF to Continue Attracting Massive Inflows
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During a recent I wait on CNBC’s Fast Money, Morgan Creek Capital Management founder Mark Yusko emphasized that everyone should have some digital assets in their portfolio. “They add diversification benefits. They are uncorrelated because they don’t derive their value from the same thing as traditional financial assets.
Decreasing volatility
Yusko believes that the volatility of cryptocurrencies will decrease thanks to the introduction of Bitcoin Exchange Traded Funds (ETFs). “I think it will reduce volatility. I think it will lead to much higher prices,” he said.
He predicted that the total value of assets under management (AUM) of Bitcoin ETFs could reach $300 billion.
“When you think about the $58 billion of money, mostly retail and consulting, that goes into this space… you don’t have to deal with software, you don’t have to deal with hardware , you just have to buy an ETF like anything else in your portfolio I think the figure is as high as $300 billion,” he added.
A skyrocketing price prediction
AS reported by U.TodayYusko recently predicted that the price of Bitcoin could rise to $150,000 this year.
Even though Bitcoin hit a new all-time high ahead of the halving, investors believe the flagship cryptocurrency could see an even stronger rally this year based on historical data.
Last week, top trader Peter Brandt predicted that the price of the leading cryptocurrency could peak at $150,000 in 2025.
Are raw materials still cheap?
Despite new highs virtually every day, the price of commodities relative to paper assets is lower than ever.
“You know, in children’s play, paper beats rock. But in real life, rock beats paper. So, we favor raw materials,” he said.
About the author
Alex Dovbnja
Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience covering everything related to the burgeoning industry, from price analysis to Blockchain disruption. Alex has authored more than 1,000 stories for U.Today, CryptoComes, and other fintech media. He is particularly interested in regulatory trends around the world that are shaping the future of digital assets; he can be contacted at alex.dovbnya@u.today.