Are you looking to add some excitement and profitability to your investment portfolio? Well, hedge fund manager Mark Yusko has a prediction that might just pique your interest. According to Yusko, bitcoin is set to more than double this year, reaching a staggering $150,000.
In a recent interview with CNBC’s “Fast Money,” Yusko urged investors to “get off zero” and consider allocating 1% to 3% of their portfolio to bitcoin. He referred to bitcoin as the king and a better form of gold, emphasizing its dominant position in the cryptocurrency space.
As of the latest market close, bitcoin has seen a remarkable 159% increase over the past year, reaching around $70,700. Yusko believes that bitcoin has the potential to surge tenfold over the next decade, driven by factors such as the recent launch of bitcoin exchange-traded funds and the upcoming bitcoin halving expected in late April.
The halving, which halves the bitcoin mining reward to control its supply, is anticipated to trigger a supply shock and propel bitcoin to new heights. Yusko envisions a parabolic increase in price towards the end of the year, with the peak likely occurring around Thanksgiving or Christmas, before entering a new bear market phase.
In addition to bitcoin, Yusko’s firm has also invested in the crypto trading platform Coinbase, anticipating significant growth opportunities ahead. With Coinbase’s shares up almost 321% over the past year, Yusko’s optimism seems well-founded.
It’s worth noting that Yusko’s firms have exposure to various assets, including bitcoin, ethereum, gold, Coinbase, and Nvidia. As always, conducting thorough research and consulting with financial advisors is recommended before making any investment decisions.
Stay tuned to Extreme Investor Network for more insights and updates on the dynamic world of finance and investments. Remember, the key to success in investing is staying informed and making wise choices!
