Best Crypto to Buy Now 27 July – Synthetix, Pepe, Maker
Mark Yusko, the principal of Morgan Creek Capital Management, a fund management organization with $1.6 billion in its custody, shared some thought-provoking predictions about the future value of Bitcoin today.
He sees the most prominent cryptocurrency achieving a value of $300,000 by the end of 2028, raising some eyes in the crypto space today as the markets remained relatively stable. In light of this, what are the best cryptos to buy now?
Speaking with CoinDesk TV’s First Mover, Yusko commented, "Gold is not as adaptable or divisible as Bitcoin. The digital asset resolves these issues and has equivalent scarcity. Therefore, I believe Bitcoin could match gold's monetary value."
Gold's worldwide monetary value currently stands at around $6 trillion. Yusko's forecast suggests that Bitcoin could supersede this, indicating a potential tenfold surge from its present price. This concept gives rise to an estimated future valuation of $300,000 for each Bitcoin.
Yusko maintains that this speculated price could materialize by 2028. His prediction relies heavily on Bitcoin's 'halving' cycle, which takes place approximately every four years.
The halving events imply a 50% decrease in the rewards that miners gain for successfully creating a new block on the Bitcoin blockchain.
"This mechanism helps to control Bitcoin's supply, potentially easing inflationary pressure on the cryptocurrency," Yusko explained.
The next halving is expected around April 2024, and then again in 2028.
Looking at historical data, Yusko's optimistic stance derives from the pattern of Bitcoin's price trends following each halving event.
"Every halving we've had, we've added a zero to Bitcoin's price. Therefore, I predict that we could see a price of $100,000 by the
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