Mark Yusko Says ‘Parabolic Blow-Off Top’ Coming for Bitcoin After $300,000,000,000 in Institutional Money Arrives - The Daily Hodl
Morgan Creek Capital founder Mark Yusko says that a parabolic rise is on the horizon for Bitcoin (BTC) as hundreds of billions of dollars worth of institutional capital is set to flow in....
- Mark Yusko, founder of Morgan Creek Capital, predicts a parabolic rise for Bitcoin (BTC) due to institutional capital inflow.
- Yusko believes that Bitcoin tends to add a zero to its price after each halving process, with the next one scheduled for April 2024.
- He suggests that BTC could see a 1.5x increase from its all-time high, reaching a fair value of $100,000.
- Yusko expects Bitcoin exchange-traded funds (ETFs) to be approved by the end of 2023 or the start of 2024, leading to a significant influx of capital.
- He estimates that $300 billion worth of capital could flow into Bitcoin once a spot-based ETF is approved.
- The majority of Bitcoin's supply is either dormant or held by long-term holders, which could further drive up its price.
The sentiment of the article is positive, as it highlights the potential for a parabolic rise in Bitcoin's price due to institutional capital inflow and the approval of ETFs.