- ORIGINAL NEWS
Bitcoin could soar to $150,000 this year, hedge fund manager Mark Yusko predicts
- SUMMARY
Mark Yusko, a leading hedge fund manager, predicts Bitcoin will skyrocket in value this year, doubling to an astounding $150,000.
He urges investors to allocate a portion of their portfolios to this promising cryptocurrency, citing its dominance and superiority to gold.
Yusko cites the recent launch of Bitcoin exchange-traded funds as a significant catalyst for growth.
Additionally, he anticipates the upcoming halving event, which will reduce the supply of Bitcoin, to create a surge in demand.
Historically, approximately nine months after the halving, the price of Bitcoin reaches its peak.
Yusko is not only bullish on Bitcoin but also recognizes the potential of crypto-related companies.
His firm has investments in Coinbase, an online trading platform for cryptocurrencies.
He believes Coinbase is poised for considerable growth as the crypto industry continues to expand.
- NEWS SENTIMENT CHECK
- Overall sentiment:
positive
Positive
“ETHedge fund manager Mark Yusko is predicting bitcoin will more than double this year to $150,000.”
“Yusko thinks investors should have at least 1% to 3% allocated to bitcoin in their portfolios. “Bitcoin is the king. It is the dominant token. It is a better form of gold,” he said.”
Negative
“It had surpassed the $73,000 level earlier in March, but was trading around $70,700 Thursday evening.”