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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