According to The Daily Hodl, Morgan Creek Capital founder and CIO Mark Yusko said in an interview with CNBC that Bitcoin and the encryption market are in the early stages of a new bull market, which may last until next year, when Bitcoin will Go through the next halving. “I think the rally is just getting started. We’re just entering the so-called crypto summer. The Bitcoin halving will lead to a period of accumulation. The halving event is expected to happen in April of next year. Usually after the halving event, there will be a speculative frenzy. , followed by an overreaction to the downtrend, known as a crypto winter.”
Mark Yusko also reiterated what he believes to be the most important use case for Bitcoin, which is that Bitcoin is expected to replace gold as the base layer of money.
Yusko said, "Bitcoin is a permanent, immutable ledger that will become the base layer of new currencies in the future. We will build the future financial system on this basis. Other things besides this, such as ether Ethereum or some other application of blockchain technology may also play a role. I think Ethereum is more of a substitute for fiat currency.”
Mark Yusko also reiterated what he believes to be the most important use case for Bitcoin, which is that Bitcoin is expected to replace gold as the base layer of money.
Yusko said, "Bitcoin is a permanent, immutable ledger that will become the base layer of new currencies in the future. We will build the future financial system on this basis. Other things besides this, such as ether Ethereum or some other application of blockchain technology may also play a role. I think Ethereum is more of a substitute for fiat currency.”