Bitcoin price might retrace in the following months, but it will escalate to $250,000 in the next five years

In an interview with CNBC, Mark Yusko, Chief Executive Officer (CEO) at Morgan Creek Capital Management, suggested that Bitcoin price rise again in the following months. Still, it will escalate to $250,000 in the next five years.

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Mark Yusko, CEO and Chief Investment Officer of Morgan Creek Capital Management and the Managing Partner of Morgan Creek Digital Assets

Bitcoin price to reach $250,000 in five years

While BTC is on the rise, bullish price predictions are starting to emerge. Yusko once again suggested that the USD value of Bitcoin could skyrocket to $250,000 in the next five years. However, it may have a bumpy ride until that milestone is reached.

Yusko is a longtime Bitcoin advocate with a consistent view of the asset. Earlier this year, he predicted that it would take no more than five years to land at $250,000 due to network growth and increased adoption.

“This is a network, and networks grow exponentially. This is the fastest network in history to a trillion dollars of value, right on the heels of FAANGS that took, you know, 15 to 20 years depending on which one you are looking at”, he stated.

The CEO of Morgan Creek Capital Management was full of praise for the leading cryptocurrency that outperformed gold due to its fixed supply of 21 million coins.

“It’s classic supply and demand. One of the nice things about bitcoin as an asset is it has a finite supply. We know every day for the next 140 years how many bitcoin will be minted through the mining process,” he added.

By the time bitcoin hits $250,000, its market cap will also be in the precious metal. “I believe Bitcoin has and is replacing gold. It’s now digital gold. It’s a perfect store value”, he concluded. Contrary to his long-term prediction, the hedge fund manager wouldn’t be surprised if a minor consolidation occurs in the next few months.

Ultimately, Yusko reckons that a significant percentage of crypto investors will benefit from the recent strong recovery. This could be another reason why the price of BTC soon dropped before it started to rise.

“There are a lot of people that think we could hit $100,000 by the end of the year. The stock-to-flow model says we should. I also wouldn’t be surprised by a little consolidation. Look, we’re up 40% this month which is only 15 days old,” he concluded.

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