Mark Yusko, the founder of Morgan Creek Capital, believes that the fear of missing out (FOMO) phase in the Bitcoin market has yet to fully take hold. Speaking at the Bitcoin Investor Day, Yusko, a veteran hedge fund manager, stated that Bitcoin’s recent halving event has increased its fair value from $50,000 to around $80,000. He predicts that once Bitcoin starts rallying towards this new fair value, sidelined traders and investors will rush in to buy. Yusko acknowledged that while fair value has historically doubled in each halving cycle, it may not double this time due to inscription fees. Instead, he anticipates that Bitcoin will reach around $80,000 before the FOMO kicks in and drives adoption from big players like Bank of America and Merrill Lynch. Yusko also noted that FOMO has yet to begin, as evidenced by the low search activity for Bitcoin on Google. However, he expects this to change as more people become interested in Bitcoin, even mentioning that his own family members have not yet asked him about it. As of now, Bitcoin is trading at $65,246, showing a 2.38% increase in the last 24 hours.
