American asset management company Morgan Creek Capital Management, said that sooner or later, cryptocurrency will replace Fiat.
In its quarterly report, the American company Morgan Creek Capital Management announced that investor interest in the cryptocurrency will only grow, and due to the advantages of cryptocurrency and the potential impact on the entire market, sooner or later, cryptocurrency will completely replace Fiat currency from the market:
“The blockchain is the truly revolutionary technology that will have an impact on the entire Value Chain in the same way as the Internet has affected communication and trade”
The report also States that the company also believes in bitcoin directly:
“We believe that bitcoin (and other cryptocurrencies) is firmly justified. So far they are just getting warmed up”
Analysts at Morgan Creek believe that the price of the main bitcoin will reach $ 100,000 in the next 3 years, thanks to the introduction of new technologies, accelerating the adoption of cryptocurrency by the end of 2018, the year-up to $ 22,000 in 2019-th to 41 000 dollars, in mid-2021-th – up to $ 100,000. The report also reported that the market capitalization of the main cryptocurrency can reach 8.4 trillion over the decade.
In July, co-founder and head of Morgan Creek Capital Management mark Yusko, reiterated his prediction that bitcoin will conquer new heights by the end of this year and through 6 years – will soar to $ 500 000. Last year, mark Yusko said that the price of bitcoin could reach $ 1 million, but maybe not in this decade. Optimistic investor explains the belief in the “network effect”.
The company is already involved in the blockchain industry: together with the Bitwise Asset Management, they developed an index Fund for institutional investors Digital Asset Index Fund. Also earlier this year, blockchain-wing investment company Morgan Creek Capital Management announced that in conjunction with Anexio Technology Services, the company aims to convert all of their shares in physical tokens of securities of the standard ERC-20.