Bitcoin Going To Zero Is Off The Table
There was never even a modicum of thought in my mind that Bitcoin was ever going to zero and now Mark Yusko echoes that opinion:
The co-founder of cryptocurrency hedge fund Morgan Creek Digital, Mark Yusko, says that the idea of Bitcoin going to zero is no longer within the realm of possibility.
In a new The Wolf Of All Streets interview with Scott Melker, Yusko says that talk of BTC going zero might erupt as the leading crypto asset surges in value and defies expectations.
“At $450,000 per coin, people are going to be freaking out, ‘Oh, you know, it has to go to zero from here.’ Zero is off the table. We’ve reached the network effect critical mass where this technology is here to stay. There are a lot of things it’s going to do beyond just the gold store of value use case… We’re taking a tradfi (traditional finance) world and an analog world that went to electronic and centralized finance, now we’re going to move to truly digital and a decentralized world which is just far superior.”
Yusko adds that on-chain fundamentals point to Bitcoin’s staying power.
“The information that we all look at objectively, if we just look at data in terms of adoption, wallets, blocks, transactions, and use cases for these technological innovations, [they] just keep rising. So fundamentally, my conviction is incredibly strong now.”