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Sunday, November 12, 2017

Crypto News: Bitcoin $400,000 Says Investing Guru Mark Yusko

Bitcoin $400,000 Says Investing Guru Mark Yusko

he Chicago Mercantile Exchange (CME) has announced it will add Bitcoin futures trading in the fourth quarter of 2017. Bitcoin price almost instantaneously jumped on the news, reaching all-time highs over $7,500.

However, the cancellation of SegWit2x has led to a sudden slump in the price, and would-be investors have been scared away from previous high priced predictions. However, Mark Yusko, founder and CEO of Morgan Creek Capital Management ($3.7 bln in assets under management) has not shied away from making predictions, suggesting that Bitcoin will eventually be worth $400,000.

The investing guru first bought into the cryptocurrency scene in 2011 but regrets not purchasing more. He was clear about the future, however, in spite of the lack of support among institutional bankers. He noted:

"This will change the supply and demand equation for banking. It is that big. I'm not surprised at all that bankers, financiers and Saudi Princes are coming out against it. This is a truly disruptive technology.”


Full story at http://bit.ly/2htgFyW


Source: CoinTelegraph


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