In a recent interview, Morgan Creek Capital founder Mark Yusko made a Bitcoin price prediction of $400,000 and explained why.

2019 has been a pretty good year for Bitcoin. The world’s foremost cryptocurrency has enjoyed periods of relative stability and has recently gone up in value, breaking several psychological barriers. At the time of writing, BTC is trading for $6,410, but many expect the price to continue to go up. One such individual is Mark Yusko, the founder of Morgan Creek Capital, who recently made a startling Bitcoin price prediction of $400,000.

Bold Prediction

Yusko was quite bullish on the future of Bitcoin. He thinks the continually developing infrastructure of the virtual currency will eventually send its value up to $400,000.

It was truly a pleasure interviewing @MarkYusko on @BloxliveTV . He predicts #bitcoin will reach highs of $400,000 🚀💥🤯 👇Take a look at how and when below👇 Mark, thank you so much again! Full interview here: https://t.co/JZsYoOLjED pic.twitter.com/n0WZPTLRER — Layah Heilpern 📺 (@LHeilpern) May 9, 2019

Speaking to BloxLive TV, he was quite keen on comparing Bitcoin to gold. He talked about how gold is an asset that has been used for thousands of years. Likewise, Bitcoin is an asset as well, albeit a recently created one.

What is interesting is that he thinks BTC will eventually become the equivalent of digital gold. Another intriguing thought of Yusko is that Bitcoin is following a similar pattern to gold in how it’s being adopted, but he went on to opine that it is ahead of gold in use cases.

He also touted the benefits of Bitcoin versus gold, saying:

Bitcoin is much easier to transport. It is much easier to divide. It is tough to break a bar of gold into its component pieces. And so it [Bitcoin] has all these essential qualities that I think are superior to gold.

The Reasoning Behind the $400K Bitcoin Price Prediction

There is a reason behind the price prediction made by Mark Yusko. He believes that Bitcoin will inherit the market valuation of gold sometime in the future. Gold currently has a total market valuation of $7.3 trillion.

Yusko then took the $7.3 trillion market valuation and divided that by 21 million, which is the total supply of bitcoins. The math breaks down to each BTC then being worth $400,000.

But what about the bitcoins that are now unreachable due to being lost? When Yusko factors the missing coins into the equation, he believes that Bitcoin price could hit $500,000.

This is an encouraging view of the future for those hodling Bitcoin. However, those thinking about rushing out to put in an order for a shiny new Lambo may want to wait a bit. Yusko thinks it will take 10 years or so before Bitcoin overtakes gold and becomes its digital equivalent.

Images courtesy of Twitter/@LHeilpern, Pexels, and Pixabay.