Start Growing Your Portfolio 📈

Mark Yusko: “Bitcoin is the best form of money”

by

In an interview with Cointelegraph, hedgefund manager Mark Yusko, CEO of Morgan Creek Capital, made bold assertions about bitcoin’s potential to revolutionize the financial world.

He emphasized that bitcoin is not just a cryptocurrency but the best form of money, destined to serve as the base layer of what he calls the “internet of value.”

This article delves into Yusko’s insights on bitcoin, its comparison to gold, and the broader implications for financial services and technology.

Bitcoin vs. Gold: A Shift in Market Dynamics

Mark Yusko believes that bitcoin will eventually absorb the entire market capitalization of gold, which currently stands at around $4 trillion. He forecasts that this transition could drive bitcoin’s price north of $500,000. In the short term, he predicts a five-fold increase in bitcoin’s value, potentially reaching $250,000 within the next few years.

The Financial Services Market

Mark Yusko points out that the financial services sector is vastly larger than information, media, and commerce combined. This presents a significant opportunity for Bitcoin to tap into a massive market, reinforcing its position as “the best form of money.” He draws parallels between the evolution of the internet and the emerging internet of value, suggesting that Bitcoin will serve as its base layer.

The Internet of Value: Layered Architecture

In the interview, Mark Yusko likens the structure of the internet of value to the original internet, which is built upon various protocols such as TCP/IP, SMTP, and HTTP. He envisions bitcoin as the foundational layer, with other technologies and tokens playing supportive roles. For instance, he compares SMTP to Filecoin and HTTP to Ethereum, suggesting that these technologies will facilitate file sharing and application development.

The Role of Lightning Network

While Mark Yusko acknowledges the importance of other tokens, he may overlook the capabilities of the Lightning Network, which is built natively on bitcoin. The Lightning Network extends Bitcoin’s base layer, enabling a broader range of use cases while maintaining the security and robustness of the Bitcoin network. This second-layer solution allows for instant transactions with minimal fees, making it ideal for various applications, including gaming and streaming services.

Enhancements from Taproot Activation

The recent activation of Taproot in November has further enhanced the Lightning Network’s capabilities. This soft fork improves bitcoin’s smart contract functionalities, allowing for more complex transactions to blend seamlessly with simpler ones. As the Lightning Network matures, it promises to eliminate many of the use cases traditionally associated with altcoins, rendering their value propositions redundant.

Interoperability: The Key to Success

A critical aspect of the internet, and by extension the internet of value, is interoperability. Mark Yusko emphasizes that having one blockchain per use case would be impractical. Instead, a layered approach, where various applications and services build on Bitcoin as the foundational layer, is essential for creating a cohesive financial ecosystem. The Lightning Network and its applications exemplify this principle, enabling a diverse array of functionalities while leveraging Bitcoin’s security.

The Future of Bitcoin and Financial Services

Mark Yusko’s insights into Bitcoin’s potential as the base layer of the internet of value highlight its transformative capabilities. As bitcoin continues to evolve, driven by innovations like the Lightning Network and the Taproot upgrade, it is poised to redefine the financial landscape. With its unique properties and robust security, bitcoin stands as the best form of money, ready to lead the charge into a new era of financial services.

As we move forward, it is crucial to recognize the importance of building on Bitcoin’s foundational layer. The future of finance lies in interoperability, security, and the seamless integration of various applications, all of which bitcoin and its layers can provide. Embracing this vision will not only enhance our understanding of value exchange but also pave the way for a more inclusive and efficient financial system.

DCA Strategy Advert
Bitcoin: There is no Second Best

Bitcoin: There is no Second Best

In a recent keynote, Michael Saylor emphasized that "There Is No Second Best" and bitcoin stands alone without any serious competition or alternative. This article distills Saylor's insights on bitcoin's supremacy, its role in digital transformation, and its potential...

read more
Best Time and Day to DCA Bitcoin

Best Time and Day to DCA Bitcoin

What is the best time and day to DCA Bitcoin? This article discusses dollar-cost averaging (DCA) for Bitcoin investment and explores the possibility of optimizing buy times for recurring purchases. Key findings: Daily recurring buys: According to a report by River,...

read more
Best Bitcoin Wallets

Best Bitcoin Wallets

Bitcoin wallets are mobile apps or computer programs that make it easy to send and receive bitcoin.  It is very important to be careful when downloading or updating your wallet. Bad actors may promote fake wallets or malicious update notifications. Always verify...

read more
Earn Bitcoin: Complete list with 100 Earning Sites

Earn Bitcoin: Complete list with 100 Earning Sites

Looking for ways to earn Bitcoin? You've come to the right place! This comprehensive guide unlocks the secrets to earning Bitcoin, from established methods to exciting new trends. Whether you're a seasoned crypto enthusiast or a curious beginner, we'll show you how to...

read more
Join the DCA Letter, never miss updates:
en_US
$200 FREE credit!

$200 FREE credit!

Join our newsletter and get free DCA Updates as well as a chance to win $200 free credit to join our membership cheaper! Raffles every month!

Success! Check your email to confirm.

Share This