Morgan Creek: the Bitcoin price will rise to $100,000 and displace Fiat
The American company Morgan Creek Capital Management, engaged in asset management, presented a new report on the state of the market in the second quarter of 2018. In it she said that cryptocurrencies will replace Fiat money.
According to the report, investors remain interested in the digital assets. As for the future of cryptocurrencies and their influence on the market, the company adhere to this position:
In our opinion, the blockchain is a revolutionary technology that radically transformerait the whole chain of creation and distribution of values, similar to how the Internet has changed the sphere of communication and Commerce. We believe that the money in their current form will wither away and their place will be the Internet of money (or values). It seems to us that bitcoin (and other cryptocurrencies) is not out of the picture — on the contrary, we are now seeing the acceleration of the pace of their development.
Currently, the financial markets gradually accept bitcoin and major cryptocurrency becomes part of the traditional financial sector.
Morgan Creek is already working with cryptocurrencies: together with colleagues from the Bitwise Asset Management, she launched the Digital Asset Index Fund, designed for institutional investors wishing to invest in the ten largest digital assets.
In the report Morgan Creek also States that the evolution of the price of bitcoin follows the pattern 2014. According to the authors of the document, in the next three years the price of the coin will reach $100 000.
The company believes that the incentives distribution of bitcoin will be technological innovations and Lightning Network. According to the forecasts of Morgan Creek, to the end of 2018, the price of the home cryptocurrency will reach $22 000; in 2019 bitcoin will cost $41 000, by the end of 2020 to $75,000, and by mid-2021— th — $100 000. Analysts believe that within a decade the market capitalization of bitcoin will reach $8.4 trillion.