Morgan Creek Capital founder and CEO Mark Yusko is saying that the crypto industry faces positive prospects in 2024.
In a new interview on The Dales Report, Yusko that 2024 is “going to be an incredibly powerful” year for crypto, aided by the alignment of various factors.
“That’s kind of what we have coming into 2024. We have this celestial alignment of all the things, all the cycles. So we have the four-year cycle in Bitcoin, right? The halving happens in April, or early May, depending on the blocks. But that’s going to happen.
We’ve got this wave of liquidity that’s about to be unleashed with the approval of the [spot Bitcoin] exchange-traded fund (ETF).
We’ve got this cyclical wave of it looks like the economy is slowing therefore the Federal Reserve’s going to go back to accommodation which will devalue the dollar more, which means if we price Bitcoin in dollars, the price of Bitcoin goes up.”
According to the hedge fund veteran, the crypto industry might also benefit from a “technological wave” as a result of new talent potentially entering the space.
“We’ve got a technological wave where 650,000 people were laid off from Big Tech. That’s a lot. And it turns out, that some of them don’t have enough money to never work again. Some do, but many don’t. And turns out, some of them are like really smart. And so they are starting new companies…
Turns out the most powerful force in the universe… …is human creativity.”
