Mark Yusko: "The whole world will inevitably use bitcoin.Mark Yusko, during the Tech Path Crypto podcast, lamented that about 80% of all bitcoins are concentrated outside of the U.S. and only about 20% of the cryptocurrency remains in the possession of Americans. Yusko emphasized that even if U.S. citizens weren't invested in BTC, it wouldn't interfere with its daily functioning.
The head of Morgan Creek Capital says bitcoin is especially in demand in countries whose national currencies are subject to devaluation, such as Nigeria. In addition to the Nigerian naira, Yusco mentioned the Turkish lira, the Argentine peso and the Venezuelan bolivar. Given the unstable economies of all four countries, their citizens prefer gold and bitcoin.
When discussing the introduction of cryptocurrencies, Yusco joked that they would be widespread around the time his six-month-old granddaughter started using money. The businessman is confident that she will no longer use paper money and traditional wallets, which will be replaced by digital wallets and crypto-assets.
Mark Jusko believes that the transition to digital currencies of central banks will be inevitable, as it is an important technological transformation of the payment system. At the same time, state-owned stablenecoins will not be able to dominate cryptocurrencies. On the contrary, CBDCs will help people realize the potential and possibilities of crypto-assets.
Late last year, Mark Yusco suggested that bitcoin could eventually become an equal substitute for gold. And the hedge fund manager recently said that meme-based, dog-eared cryptocurrencies have no real value because they were created as a joke.
