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Mark Yusko, CEO of Morgan Creek Capital investment company, believes that bitcoin is the best form of money that will become the foundation of the “Internet of Values”.
During an online interview with Cointelegraph, Mark Yusko shared his thoughts on gold, bitcoin and other cryptocurrencies. In his opinion, over time, bitcoin will “absorb” the market capitalization of gold, as a result of which the BTC rate will exceed $ 500,000. If we talk about the short term, bitcoin could reach $250,000, Yusko suggested.
He also spoke about the development of the Internet of Values, drawing an analogy with the ordinary Internet. He compared SMTP to the decentralized Filecoin file storage, and HTTP to Ethereum. According to Yusko, in addition to file sharing and the application layer, other cryptocurrencies will also be important in the gaming sphere and for paying for content.
“We use TCP/IP data transfer protocols, we have a simple SMTP e-mail protocol and HTTP hypertext transfer protocol. The Internet of Values will be the same multi-layered, and bitcoin can become its base level,” Yusko said.
The CEO of Morgan Creek has long been known as a supporter of bitcoin and believes that this cryptocurrency should be in every investor’s portfolio. Back in 2019, he called bitcoin an effective means of hedging risks against the background of a declining market for traditional assets.
Earlier, the head of Morgan Creek Capital expressed the opinion that the bitcoin exchange rate could reach $ 100,000 this year, but so far his optimistic assumptions have not been justified.
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