WallStreet tycoon Mark Yusko gives Bitcoin a 400,000.00 price tag. While this may sound like another Bitcoin enthusiast giving the cryptocurrency another bullish pump, I believe it deserves some attention.

Who is Mark Yusko

Mark Yusko is the founder of Morgan Creek Capital Management, an investment management firm advising pension funds, endowments and wealth management. Currently he also holds the title of Chief Executive Officer and Hedge fund manager. While he has had some wild views on the American market famously saying "I would short Amazon Stock if it reaches 1000", he also entertains a selective few that is capable of moving any market.

With that in the light, I believe it can be assume that USD 400,000.00 is the price target that "Hedge Fund Managers" have in mind. Thus, I believe we should not think like "Day Traders" who at times speculate on possible up and downs spanning 72 hour period but start to think like a Hedge Fund manager who may hold a position for months or even add on to their position when the market bleeds.

It is also interesting to note, Morgan Creek Capital Management firm advises pension funds that often take position in a market with a 5 year outlook. Probably we could see pension funds acquiring Bitcoin as an asset class that can add value to their portfolio. We already have the likes of Fidelity Investments giving clients the opportunity to participate in the growth of digital currencies.

Here in the interview with Bloomberg TV Markets and Finance

Source: Blomberg TV Markets and Finance

While this isn't financial advice, I believe its only prudent to stash at least 0.1 or better 1BTC away. It doesn't take much of a genius to figure out where this market is heading. Expect some major correction along the way, the market has been choppy of late and pullbacks are always healthy signs. I also expect 2018 to be the year of "Celebrities cryptocurrency endorsement", when that happens, things can get very expensive.

Until next time, hit upvote and resteem