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Bitcoin to rocket to $250,000 within five years

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Bitcoin to rocket to $250,000 within five years

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Analysts continue to surprise the market with staggering bitcoin price projections. According to Morgan Creek Capital Management CEO Mark Yusko, the price of the first digital currency could reach $250,000 per coin in the next five years.

The head of Morgan Creek Capital Management compared bitcoin's explosive rally to the growth of such IT giants as Facebook, Apple, Amazon, Netflix, and Google. It took them 15-20 years to hit a market capitalization of $1 trillion, while the first cryptocurrency succeeded in a shorter period of time.

Morgan Creek Capital’s CEO is confident that BTC will rival gold in terms of monetary value. At the moment, gold's monetary value is $4 trillion, and bitcoin is expected to reach this level in the short term.

Yusko believes that along with high-yielding currencies such as BTC and Ethereum, there are “useless” ones, including Dogecoin (DOGE). “They’re just utility tokens that have no underlying value, or use case, and they’ll eventually disappear,” he noted.

Notably, Mark Cuban has recently predicted that the price of Doge could advance to $1. The billionaire is calling attention to the meme-based cryptocurrency as a means of payment for its ability to handle transactions. Earlier, Kevin O'Leary, an investor and "Shark Tank" co-host, noted that he viewed BTC as digital gold, and Ethereum as digital silver.

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