Morgan Creek’s Mark Yusko predicts the future of crypto exchanges, says the next Bitcoin Bull Run is inevitable

Morgan Creek Capital CIO Mark Yusko considers the future of crypto and whether the industry will remain dependent on centralized exchanges.

In a new interview, the hedge fund veteran says that there will come a time when the crypto space will become more decentralized.

“There is a day in the future where exchanges are less necessary, when we can have a pure DeFi [decentralized finance] or a pure Bitcoin world. We are not there, not even close, but one day. In the meantime, we need some viable exchanges.”

Looking at Bitcoin (BTC), Yusko says the royal crypt continues to show strength despite industry headwinds, including the high-profile collapse of FTX.

“Bitcoin is up 10% since we spoke last week. It’s up 13% in the last month and it’s rallied meaningfully from the 50% post-FTX low, so massive resilience.”

Amid anticipation of the next Bitcoin bull run, Yusko says many are not ready to see BTC break the six-figure mark.

“A lot of people are starting to look towards the halving early next year and crypto spring is getting long in the tooth and we’re just a few months away from crypto summer. I saw someone saying, ‘Are you emotionally ready for $100,000 Bitcoin?’ I don’t think people are, I really don’t. I don’t think they are ready to see the next bull cycle.

[It] is as inevitable as spring turns to summer and night turns to day. It’s going to happen and all the basics: hash rate all-time high, number of wallets greater than 0.01 [BTC] all-time high, you have the brand new on ordinals and NFTs on Bitcoin…

I believe that the inevitability of digital assets is stronger than it has ever been. The positive energy around the ecosystem is starting to come back after being suppressed.”

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