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Hedge fund manager Mark Yusko expects the price of Bitcoin to double this year to $150,000. The CEO of Morgan Creek Capital Management believes - in an interview with the American CNBC

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viewed by Al Arabiya Business - that investors should allocate at least 1% to 3% of Bitcoin in their investment portfolios. "Bitcoin is king. It's the dominant token. It's in better shape than gold," he said. Bitcoin has risen by about 147% over the past year. It surpassed $73,000 earlier in March. It ended the week at levels just above 70K.

“I think it could go up 10-fold from here easily over the next decade,” Yusko added. Bitcoin exchange-traded funds, which launched in January, are seen as a major bullish driver for the cryptocurrency. Yusko also expects the upcoming halving to result in a supply shock which could lead to another round of major tailwinds for major cryptocurrencies. The halving, which cuts the Bitcoin mining reward in half to limit supply, is expected to take place in late April. “Historically about nine months after halving, we see the price peak before the next bear market,” Yusko said.

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