Don't want to trade it yourself?
Our desk runs DEX portfolios on profit share.
- Mark Yusko, CEO of Morgan Creek Capital Management, said <a href="https://xpertsstudio.com/what-does-a-fed-rate-hike-mean-for-bitcoin-prices/” title=”What does a Fed rate hike mean for bitcoin prices?”>Bitcoin (BTC) has a fair value of about $105,000.
- Yusko said that based on Metcalfe’s law, Bitcoin’s current price of about $75,000 makes it a good time to buy.
- Yusko said Bitcoin can preserve personal wealth over the long term and serve as a store of value alongside gold.
Forecast Trend Report by Period
Mark Yusko, chief executive officer of Morgan Creek Capital Management, said Bitcoin is currently undervalued and pegged its fair value at about $105,000.
In an interview with crypto-focused outlet Bitcoin Magazine on Sept. 16, Yusko said Bitcoin’s fair value under Metcalfe’s law is about $105,000. With the cryptocurrency trading at around $75,000, now is a good time to buy, he said.
He described Bitcoin as a tool for protecting personal wealth and argued that long-term investment in companies is not a good choice. He added that 85% of companies have disappeared over the past 30 years, underscoring the need for an asset that can preserve value over the long term.
Yusko said gold has historically served as a store of value for about 5,000 years and argued that Bitcoin can now play that role alongside gold.
Source: en.bloomingbit.io