According to CryptoPotato, Mark Yusko, CEO and CIO of Morgan Creek Capital Management, has predicted that Bitcoin's price could reach $150,000 by 2024. Yusko's bullish prediction comes as Bitcoin's price has increased by over 60% since the beginning of the year, breaking its 2021 all-time high of $69,050 and charting a new one of almost $74,000. The latest peak came ahead of the fourth halving for the first time ever, with just a month left until BTC’s production is sliced by half.
Yusko highlighted Bitcoin's benefits over other cryptocurrencies and its merits when compared to gold during an interview with CNBC’s Fast Money. He believes that the spot Bitcoin ETFs in the United States, which launched in January, are the primary factor behind BTC’s yearly rise. The financial products have seen massive demand from investors, with impressive net inflows for the first two and a half months of trading. Yusko also noted that there's still more room for growth for BTC, especially given the upcoming halving, scheduled to take place in late April.
Looking at the broader scale, Yusko predicted that BTC could increase its price against the dollar by 10x over the next decade, potentially reaching around $700,000 per Bitcoin. He is not the only prominent individual who has forecasted a $150,000 price tag for Bitcoin this year. Fundstrat’s Tom Lee also indicated that the asset could more than double its value from its current position in 2024 due to its appeal to Millennials and Gen Z. Additionally, British multinational banking giant Standard Chartered, which used to be among Bitcoin’s most vocal critics, shared a similar prediction for the asset. In a recent report, the bank’s analysts increased their previous forecast by 50% and said BTC could tap $150,000 in 2024 and $250,000 by the end of next year.