Mark Yusko Argues That Bitcoin Will Be Valued At $500,000 In 10 Years
More specifically, Yusko believes that Bitcoin could reach up to $500,000 in value in 10 years. His stance represents the polarizing views that individuals have on cryptocurrency in general. Some believe that cryptocurrency will decrease in value soon, while others believe that it is here to stay.
Blockchain technology — and bitcoin in particular, as the first manifestation of blockchain technology — is really still in its infancy," Yusko said. "It really is about the growth mindset and focusing on the venture capital upside or the asymmetric upside of the asset at this point."
Yusko presents several reasons as to why he believes Bitcoin will continue to grow in value. The first being that as blockchain technology adapts the asset becomes more valuable.
"The key to bitcoin is the network," Yusko said. "It grows in proportion to the inverse of the sum of the squares of the number of participants. That's Metcalfe's Law."
Additionally, there is a finite number of bitcoins available, which increases the scarcity of the asset. This could potentially make Bitcoin more valuable than gold, since gold can be consistently mined, according to Yusko.