Opinion: Bitcoin to reach $250,000 within five years

Mark Yusko, head of Morgan Creek Capital, in a CNBC comment forecast the rise of digital gold to $250,000 within five years.

He compared the rapid adoption of Bitcoin to the growth of Facebook, Apple, Amazon, Netflix and Google. Yusko explained that those companies reached a $1 trillion market capitalization in 15-20 years, and Bitcoin did it faster.

According to him, Bitcoin will become a competitor to gold in monetary value:

“If the monetary value of gold is $4 trillion, digital gold should rise to that amount — a figure that sets the price at a quarter of a million dollars per coin”.

The executive also criticised Dogecoin (DOGE) for its uselessness:

“There are thousands of coins, and DOGE belongs to this category, which are truly useless. These are merely utility tokens with no intrinsic value or use cases. In the end, they will disappear.”

Earlier billionaire Mark Cuban predicted the rise in the price of Dogecoin to $1. According to him, the meme cryptocurrency is better suited than Bitcoin to serve as a means of payment, because it makes transactions easier.

Investors and Shark Tank star Kevin O’Leary said that Bitcoin will always be gold, and Ethereum will be ‘number two’ after it.

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