Mark Yusko, the multi-billion dollar investor and founder of Morgan Creek Capital, joined Bloomberg News to defend his prediction that Bitcoin will be worth $ 400,000 in the long term. Yusko's now famous prediction made headlines because of its grandiose scale, and the Bloomberg reception staff had questions.

First, when asked about the Blockchain vs. Bitcoin technology issue, Yusko was quick to point out that 'Bitcoin is a Blockchain', and that the argument of having one and not the other was a non sequitur. Then he answered the question about his price prediction when comparing Bitcoin with gold. He said:

"It's just math, it's equivalent to gold ... there are about 20 million Bitcoins available today, today's gold is about $ 8 trillion, that gives you $ 400,000, and that does not include currency-related use cases."

Scary fear

The investor also pointed out that the asset is causing fear in the hearts of bankers precisely because Bitcoin eliminates the need for banks. When transactions are verified in a Blockchain, banks become obsolete. He said:

"All bank people should have a deadly fear of this, it has the potential to displace the need for banks as a fiduciary institution ... it has the potential to disrupt the banking sector as we know it."