Hedge Fund Manager Predicts Bitcoin to Hit $150,000, Urges Investors to 'Get Off Zero'

Hedge fund manager Mark Yusko has made a bold prediction about the future of bitcoin. According to Yusko, the cryptocurrency is set to more than double in value this year, reaching an impressive $150,000. This forecast was shared during an interview on CNBC's "Fast Money" this week, where Yusko urged investors to "get off zero" and consider allocating at least 1% to 3% of their portfolios to bitcoin.

Bullish Outlook and Market Performance

Yusko believes that bitcoin holds a dominant position in the market and views it as a superior alternative to gold. As of Thursday's stock market close, bitcoin has already seen a significant increase of about 159% over the past year, with a value of approximately $70,700 on Thursday evening. Yusko is confident in bitcoin's potential, stating that he sees a possibility for it to increase by tenfold over the next decade.

Catalysts for Growth

One of the major drivers for the cryptocurrency, according to Yusko, is the introduction of bitcoin exchange-traded funds (ETFs) earlier this year. Additionally, he anticipates a supply shock due to the upcoming bitcoin halving, which is expected to occur in late April. The halving, a process that reduces the mining reward for bitcoin, is projected to create a new wave of positive momentum for the cryptocurrency.

Future Price Movement and Investment Holdings

Yusko predicts that the significant price movements for bitcoin post-halving are likely to become more pronounced toward the end of the year, potentially reaching a peak around Thanksgiving or Christmas. Furthermore, Yusko's firm is also invested in the crypto exchange Coinbase, which he believes has substantial potential for growth. Notably, Coinbase's shares have surged by almost 321% over the past 12 months.

Investment Disclosure

In a disclosure, Yusko revealed that his firms have ownership of bitcoin, ethereum, gold, Coinbase, and Nvidia. This demonstrates a strong commitment to various digital assets and related companies, aligning with his optimistic outlook on the future of cryptocurrencies.