Mark Yusko, founder of Morgan Creek Capital, manifested his optimistic outlook on the future of Bitcoin (BTC) during Bitcoin Investor Day. Yusko, a recognized name in the world of hedge funds, pointed out that following the recent Bitcoin halving, the fair value of the cryptocurrency rose from US$ 50.000 to approximately $80.000.
According to the investment expert, the market has not yet reached the FOMO (fear of missing out) phase, which is expected to occur when BTC approaches this new estimated fair value. “Fair value has doubled in each of the previous halving cycles. Now I don’t think it will double this time because now we have registration fees related to ordinals,” Yusko explained. He continues: “Instead of going from $50.000, where the fair value is [before the halving], to $100.000, I think we'll probably get to $80.000, but we're still under $80.000, so , when you start to move towards this new fair value after the halving, FOMO will kick in.”
Yusko also discussed the potential for mass adoption and increased interest from large financial institutions like Bank of America and Merrill Lynch. “Once FOMO kicks in and you get greater adoption due to the demand shift from Bank of America and Merrill Lynch and the thundering herd finally gets approval… I think all of that will take us to a very different pricing level.”
Despite these promising predictions, Yusko noted that general interest in Bitcoin has not yet peaked, as evidenced by low search activity for Bitcoin on Google and a lack of curiosity among its closest social circles. “This [conference] is an echo chamber. We talk to each other on Crypto Twitter [about] how smart we are, but the average person? My family members aren’t calling me yet, [but] they will.”
At the time of publication, Bitcoin was trading at $65.045,20, marking a 2% increase in the last 24 hours.
