Mark Yusko, founder and CEO of Morgan Creek Capital, a US-based asset management firm, stated that he thinks 2024 will be a very good year for cryptocurrencies, as he said before.
Participating in a broadcast of CNBC, one of the US media, Yusko said that the reward halving in Bitcoin will be the biggest factor that will push the price up.
“Bitcoin exceeds 100 thousand dollars”
Stating that he thinks Bitcoin will rise sharply after the halving, as in previous cycles, Yusko said:
“When mining rewards are split in half, miners will also suffer. This strain will increase the price. I think this is why the Bitcoin price will go to 100 thousand dollars. Big moves usually happen after the prize halving. The halving will most likely take place on April 20 or 21. After the halving, demand will begin to increase. Interest from ETFs and people will grow, but supply will decrease. Daily supply will decrease from 900 to 450. The price will start to rise. I think the price will start to rise explosively towards the end of the year. Because when we look historically, we see that the price peaks about 9 months after the halving. “And after that, bear season usually starts.”
“We also bought Solana, Avalanche and Ethereum”
Stating that they bought both stocks and other cryptocurrencies besides Bitcoin, Yusko stated that especially the stocks were approaching the top:
“Other assets that can be bought during this rise may be stocks or other cryptocurrencies, but it is not very easy to decide. Regulations have become very strict recently. As a company, we also follow mining companies. In fact, they are close to the top… There are also companies that are indirectly connected to Bitcoin. Machine and device manufacturers… such as Nvidia, AMD… They have been connected to the crypto industry for 6-7 years, but they have also gone to the top. We also have investments in cryptocurrencies such as Ethereum, Solana, AVAX, but Bitcoin is king. As Michael Saylor said, it can also be digital real estate. “I think Bitcoin can rise 10 times in the next 10 years without difficulty.”
“We apply hodl policy”
Stating that Morgan Creek is not a trading company, Yusko said that they often implement a ‘hodl’ strategy:
“As Morgan Creek Digital, we are not a tarde company. Once we buy it, we keep it. But we can also make sales from time to time. For example, two years ago, when Solana experienced a serious decline, we sold some of the tokens we had, but thankfully we did not sell all of them and today Solana has risen again… But we generally apply a ‘hodl’ policy.”
It was published:
Last update:
Source: https://uzmancoin.com/morgan-creek-yusko-bitcoin-kripto/
