BitRss.com latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources

Hedge Fund Veteran Mark Yusko Predicts Bitcoin Will Replace Gold, Unveils Massive BTC Price Target

Hedge Fund Veteran Mark Yusko Predicts Bitcoin Will Replace Gold, Unveils Massive BTC Price Target
A seasoned hedge fund manager says that Bitcoin ( BTC ) will eventually replace gold, and predicts the king crypto will hit a six-figure price tag.
In a new interview with Stansberry Research, veteran hedge fund manager Mark Yusko of Morgan Creek Digital predicts that China will be the home of the next world reserve currency, but that Bitcoin (BTC) will replace it sooner after.

“There’s only one money in the world: gold. Everything else is credit, everything else is a currency. Currency is backed by debt.
Every central bank in the world has gold, some of them have less than they used to because they moved off the gold standard and went to a fiat standard where they could devalue the currency faster because they had too much debt, but where is the gold going? It’s going to China, which I believe will be the next global reserve currency, [but] it’ll eventually be Bitcoin.
In the future, Bitcoin wins because it is an asset that exists in the absence of a liability, which is what the definition of money is.”
Yusko says BTC is on track to replace gold, largely due to its superior divisibility and portability. Based on the monetary value of gold, he sets a price target of roughly $250,000 BTC in the long run.
“And so [BTC] is superior to gold. If I had a bar of gold, and I wanted to split it three ways, I couldn’t bang it on the table and give you each a third, it’s too hard to do. And I couldn’t stuff it into my computer and send it to you.
But if I wanted to send you Bitcoin, I press a bunch of buttons, and boom, I could divide a Bitcoin into three pieces and send you both a third, easy. So it does have advantages in being more portable and more divisible than gold, so I think it will eventually replace gold. 
$5 trillion, the monetary value of gold, roughly equals $250,000 price per Bitcoin. Now, it won’t all happen tomorrow, but over time it’s going to happen. “

I
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter , Facebook and Telegram

Surf The Daily Hodl Mix



Check Latest News Headlines

 


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Stablediffusion
The post Hedge Fund Veteran Mark Yusko Predicts Bitcoin Will Replace Gold, Unveils Massive BTC Price Target appeared first on The Daily Hodl .

BitRss.com shares this Contents always with License.

Thank you for Share!

   
Tumblr
LinkedIn
Reddit
VK

WhatsApp
Telegram

Cool to know huh? Read the full Article

Read the full Article:  ⭲ Hedge Fund Veteran Mark Yusko Predicts Bitcoin Will Replace Gold, Unveils Massive BTC Price Target


Search about Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

Today Most Popular News



SneakPeek Script
Setup, Upload and Go!