Crypto market capitalization growth: Forecast of the head of Morgan Creek
Date: 2024-04-26 Author: Oliver Abernathy Categories: IN WORLD
Morgan Creek Capital's Mark Yusko highlighted the growing interest in cryptocurrencies, especially following the launch of Bitcoin-based spot exchange-traded funds (ETFs) in the US. He noted that this will change the structure of demand, but the full impact of this process has yet to be seen.
Baby Boomer Plans
Yusko suggests that baby boomers, investors born between 1946 and 1964, will begin to actively invest in cryptocurrencies through advisor-managed retirement accounts. He predicts that $300 billion will flow into the Bitcoin market from this group of investors in the coming year.
Trading in spot BTC-ETF units started in the United States in January 2024. Large investment companies such as BlackRock, Fidelity and others have already contributed more than $53 billion to the market. However, according to Yusko's forecast, this is only 15% of expected funds from registered investment advisers.
Market capitalization forecast
Mark Yusko predicts that the influx of $300 billion could increase the crypto market capitalization to $6 trillion. In his opinion, this will be the next step in the development of the cryptocurrency market.
Santiment analysts note the active accumulation of Bitcoin by large holders, while smaller investors are showing FOMO in anticipation of a rise in the rate. Crypto market capitalization increased by 65% in the first quarter, according to CoinGecko data.
Forecast Yusko expects significant growth in the crypto market due to the expected influx of funds from baby boomers, which could change the current dynamics and structure of investments in cryptocurrencies.
