Mark Yusko and Tom Lee allowed bitcoin to rise to $150,000

Morgan Creek Capital CEO Mark Yusko believes that if the US authorities approve a Bitcoin spot ETF, the price of Bitcoin could reach $150,000 by mid-2024. During a recent interview, the expert noted that the US community is excited about the likely approval of a BTC ETF. Large companies, such as BlackRock, Fidelity, VanEck, have already filed applications with the SEC to launch their own cryptocurrency exchange-traded funds.

Yusko believes that if the Bitcoin ETF is approved, the price of the main cryptocurrency in the near future could reach $100,000-$150,000. The expert also noted that the upcoming halving, which is due to take place in April 2024, will help the BTC rate rise to $150,000.

Creek Capital’s top manager’s predictions are based on Metcalfe’s law, according to which the value of the first cryptocurrency increases exponentially as the network grows. According to Yusko, at present, the fair value of BTC is at around $55,000. At the same time, with each halving of the reward to miners, the bitcoin rate can grow 10 times, the expert believes.

Fundstrat managing partner and investor Tom Lee suggested that the price of bitcoin will soon rise to unprecedented heights, provided that the US authorities do not reject applications for the issuance of spot exchange-traded bitcoin funds next year.

The investor also noted that even if the ETF is not allowed to be launched in the US, the cost of BTC may still increase due to the upcoming halving. In this case, Tom Lee believes that the first digital currency can reach $100,000.

“If the spot bitcoin ETF is approved, the demand will exceed the supply of bitcoins, so I think that the BTC clearing price could exceed $150,000 or even $180,000,” summed up the expert.

What do you think about such unanimity in the forecast about bitcoin from two well-known experts at once?