Benzinga - Sharing his insights on the future of Bitcoin (CRYPTO: BTC) and digital assets, Mark Yusko, CEO of Morgan Creek Capital Management and managing partner of Morgan Creek Digital on Tuesday emphasized the apex crypto's potential as a foundational technology in the financial world, predicting its rise as the primary settlement layer for assets globally.
Speaking at Benzinga's Future of Digital Assets event in New York City, Yusko said, "We haven't even started. The game hasn't even started yet," drawing parallels between the current state of digital assets and the early days of the internet.
He highlighted that we are on the cusp of a new era, the "truth net," where blockchains will become the backbone of the Internet of Everything.
Yusko's vision extends beyond the current applications of Bitcoin, he sees a future where "every stock, every bond, every currency, every commodity, every private business, every piece of art, every collectible car, everything that can be titled will eventually be on blockchains."
This vision places Bitcoin at the center of a revolutionary change in how we perceive and handle assets.
"Bitcoin as a base layer, settlement layer will, I believe, become the settlement layer for all assets in the world," he said.
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Yusko's confidence stems from his belief in Bitcoin's security and its ability to provide a decentralized and efficient platform for asset transfer and settlement.
Discussing the challenges and skepticism faced by digital assets, Yusko recounted the initial resistance encountered by Morgan Creek Digital.
Despite early dismissals and reluctance from investors, the firm has seen a growing interest over the years, reflecting a broader shift in the perception of digital assets.
Yusko also touched upon the regulatory landscape and the role of incumbents in the financial industry.
He criticized the traditional banking system for its inefficiencies and high costs, predicting a significant disruption brought about by blockchain technology.
"The greatest intervention, Bitcoin, the intervention, the innovation that Satoshi Nakamoto, whoever he, she, they are, created truly peer-to-peer value transfer," Yusko said, emphasizing the revolutionary nature of Bitcoin.
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Photo: Pratya Jankong
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