Hedge fund manager Mark Yusko predicts $150,000 Bitcoin by end of year, spurred by halving
Mark Yusko, CEO of Morgan Creek Capital Management, said on CNBC that he expects Bitcoin’s price to go “parabolic” later in the year, hitting $150,000 as a result of the upcoming halving event.
"Post-halving, you get a lot of interest in the asset, a lot of people FOMO in, and we normally go to about two-times fair value in the cycle," Yusko said. Yusko pegged the fair value in this cycle around $75,000, boosted by the halving but weighed down from a potential value of $100,000 by transaction fees from Ordinals and inscriptions. "This time I think probably two-times [$75,000] because there's less leverage, so that gets us to $150,000."
Yusko sees the run-up in price happening about nine months after the halving, which is currently set to take place around April 20. "Once that occurs, then you start to get an increase in demand but the supply of new coins goes from 900 a day to 450," Yusko said . "It starts to become more parabolic toward the end of the year, and historically about nine months after the halving...we see the peak in price before the next bear market."
RELATED INDICES
Yusko explained that his fund only invests about 20% in liquid tokens, but that related stocks and companies are a tougher sell than the underlying assets at this time. "They're at valuation levels that are tough to stomach," Yusko said of Bitcoin mining companies and those which make mining components, such as AMD and Nvidia. "We like things like Ethereum ETH +2.99% , we do like Solana SOL +1.20% , we do like Avalanche AVAX +0.34% ...Bitcoin's the king."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
BItcoin Could Surpass $150,000 This Cycle, According to VanEck CEO
Analyst Forecasts Bitcoin to Break $110K as Market Cycle Heats Up
Ethereum L2s surpass record $51B TVL after 205% yearly growth
The Daily: Hyperliquid set for HYPE token launch, MARA purchases $615 million in bitcoin and more