Bitcoin News

Mark Yusko discusses Metaplanet Bitcoin buys, Bitcoin’s future, and market manipulation

Mark Yusko discusses Metaplanet Bitcoin buys, Bitcoin's future, and market manipulation

In a recent SlateCast episode, Mark Yusko, CEO and co-founder of Morgan Creek Capital Management, joined host Liam “Akiba” Wright and CryptoSlate Senior Analyst James Van Straten to discuss Bitcoin’s future, market manipulation, and the evolution of money.

Yusko shared insights on Bitcoin’s value proposition, the impact of ETFs, and the broader implications of crypto adoption.

Bitcoin’s Value and Price Predictions

Yusko explained his prediction of Bitcoin reaching $250,000 in the coming years, basing it on the total value of the Bitcoin network. He stated:

“If it’s going to replace gold, the value of gold globally is about $12 trillion. Half of that doesn’t really count… The monetary value of gold, the bars that sit in central banks, that’s about $6 trillion.”

He further elaborated on the four-year cycle driven by Bitcoin halving events, suggesting that the fair value of Bitcoin doubles with each halving. Yusko predicted that the current cycle could see Bitcoin reach $100,000 as fair value, potentially reaching $1 million in the next cycle.

Market Manipulation and Price Suppression

The discussion touched on market manipulation, with Yusko drawing parallels between Bitcoin and gold markets. He argued that both are subject to price suppression:

“The Rothschild Bank in London, which sets the price of gold globally, has been fixing that price through this manipulation of the futures market for years.”

Yusko expressed concern about applying similar tactics to Bitcoin, particularly with the introduction of ETFs and the growth of the futures market.

The Evolution of Money and Financial Systems

Yusko provided a historical perspective on the evolution of information dissemination and financial systems. He argued that Bitcoin and blockchain technology represent the next significant shift:

“We’re about to bust the oldest monopoly in the world left, which is financial services. Banking, right? Banking was started back in the 1100s by the Portuguese monks, the Knights Templar, and it has emerged with the Medici’s to now the Morgans and the Rothschilds.”

He emphasized the potential for Bitcoin to disrupt traditional banking systems and reduce transaction costs.

Institutional Adoption and ETFs

The conversation covered the impact of ETFs on Bitcoin’s price and adoption. Yusko highlighted the potential for increased demand:

“GBTC took in 10 billion dollars, which back then was a lot of money. And there’s this multiplier effect, because as you…

Click Here to Read the Full Original Article at Bitcoin (BTC) News | CryptoSlate…