Bitcoin could hit $250,000 within 5 years if it rivals gold’s market cap, an investment chief says

Bitcoin could hit $250,000 within the next five years as it approaches the equivalent of gold’s market capitalization, according to Morgan Creek Capital Management’s Mark Yusko.

Yusko told CNBC’s “Trading Nation” on Friday investors are underestimating bitcoin’s ability, and it is more than just a token of value.

“It’s just about network adoption and increased usage,” he said. “This is a network and networks grow in an exponential way. This is the fastest network in history to a trillion dollars of value, right on the heels of the FAANGs that took 15 to 20 years, depending on which one you look at.”

Bitcoin hit the $1 trillion market valuation in just 12 years of existence, while mega-cap US tech companies like Facebook, Amazon, Apple, Netflix, and Alphabet took much longer.

Yusko said if bitcoin reaches near gold’s monetary value, each coin would be valued at about $250,000.

“Bitcoin is digital gold, and as it approaches that monetary value of gold at $4 trillion – that gets you to that $250,000 value,” he said. “If we went all the way to all the gold including jewelry and bars and coins, then (bitcoin) could be as high as $8 trillion of value, and probably closer to $500,000.”

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