says<\/a> that BTC could appreciate to a price of at least $100,000 by the end of 2024.<\/p>\n\u201cI think we hit six figures. I do these 10 surprises every year and one of mine was that we hit six figures. We definitely take out the all-time high. That could happen in days.\u201d<\/i><\/p>\n
On what will drive the price of Bitcoin higher, the hedge fund veteran says,<\/p>\n
\u201cOnce people realize that these exchange-traded funds (ETFs) are taking out more Bitcoin out of the market than is mined every day\u2026 and after the halving, it\u2019s going to be two or three times that. So it\u2019s just a supply-demand problem. So we have the demand shock and, you know, basic supply and demand, right?<\/i><\/p>\n
\u2026So we\u2019re having a demand shock right now. And we\u2019re going to have a supply shock in April where we go from 900 Bitcoin [mined] a day to 450. You put those two things together, numbers go up.\u201d<\/i><\/p>\n
According to the Morgan Creek Capital CEO, some central banks will eventually include Bitcoin in their reserve holdings.<\/p>\n
\u201cYes, we will see central banks adopt Bitcoin the same way that central banks eventually adopted the [Chinese] Renminbi [currency]. So at first, you know, all central banks own gold. Gold is the base layer of money, and then they hold other currencies of each other as a store of value.<\/i><\/p>\n
And then they issue currency on top of that. So gold is the base layer. Bitcoin is digital gold. So at some point the smart ones are going to say, \u2018you know what, I\u2019m going to put some in there.\u2019\u201d<\/i><\/p>\n
Bitcoin is trading at $43,452 at time of writing.<\/p>\n