$150,000 Bitcoin Boom Expected In 2024, Says Hedge Fund Manager: 'Bitcoin Is The King, It Is The Dominant Token'
Portfolio Pulse from Bibhu Pattnaik
Hedge fund manager Mark Yusko predicts Bitcoin (BTC) will surpass $150,000 in 2024, doubling its current value. He suggests allocating 1% to 3% of portfolios to Bitcoin, citing it as a superior alternative to gold. Yusko highlights the upcoming Bitcoin halving and the introduction of Bitcoin ETFs as bullish catalysts, expecting a supply shock and significant price increases post-halving. Yusko's firm also holds exposure to Coinbase.
March 31, 2024 | 6:32 pm
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Mark Yusko predicts Bitcoin will surpass $150,000 in 2024, doubling its current value, and suggests allocating 1% to 3% of portfolios to Bitcoin.
Yusko's prediction is based on the upcoming Bitcoin halving and the introduction of Bitcoin ETFs, which he believes will act as bullish catalysts. His optimistic outlook and the suggestion to allocate a portion of portfolios to Bitcoin could increase investor interest and demand, potentially driving up the price.
CONFIDENCE 80
IMPORTANCE 95
RELEVANCE 100
POSITIVE IMPACT
Yusko's firm holds exposure to Coinbase, anticipating promising prospects for the company.
The mention of Coinbase by Yusko, a prominent hedge fund manager, could signal confidence in the company's future prospects. This exposure suggests a positive outlook on Coinbase's role in the cryptocurrency market, potentially attracting investor interest and positively impacting its stock price.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80