Peter Brandt said that in the future, bitcoin will “come out of the shadows” of the usual investment assets
The price of bitcoin could rise to $300 000 by 2028, according to Mark Yusko, founder of Morgan Creek Capital Management. He voiced his forecast, drawing an analogy between the monetary equivalent of the price of BTC and gold. According to the expert, the cost of the first cryptocurrency can be equal to the precious metal or even exceed its price.
“The monetary value of gold is about $6 trillion. I think bitcoin can replace all of that, $6 trillion here would be ten times as much, giving us a price of around $300 000,” Yusko said.
According to the head of Morgan Creek Capital Management, the growth of bitcoin is likely to be associated with the upcoming halving — the next one is expected in the spring of next year, the next — in 2028.
And the top manager of State Street Global Advisors, George Milling-Stanley, expressed the opinion that BTC cannot be considered a full-fledged replacement for gold because of the potential threat of huge losses. The company manages the largest real-collateral gold ETF. So it makes sense that the chief gold strategist at State Street Global Advisors is defending the precious metal’s status.
“The volatility of bitcoin only refutes the claims that the first cryptocurrency is a long-term strategic asset and can compete with gold. Gold is a hedge against inflation. Gold is insurance against a fall in the stock market. Gold is insurance against a weakening dollar. For me, historically, in a properly balanced portfolio, gold helps to increase the return on investment,” said Milling-Stanley.
Well-known trader Peter Brandt believes that the time will come when bitcoin will “come out of the shadows” of conservative investment assets, in particular, securities and gold. In addition, in the future, it is the main cryptocurrency that will become a key asset in the financial market.
“BTC correlation with other markets will not be possible. Bitcoin will be at the top of the food chain and that’s the only thing that will matter. It won’t matter how BTC correlates with gold, stocks, the economy, or whatever. It is important how all these things will correlate with bitcoin,” the trader wrote.
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