As 2023 Began, Morgan Creek's Yusko Said This Crypto Could Rally 50x, Outperforming Bitcoin And Ethereum — What You Need To Know

Earlier this year, in January, Mark Yusko, CIO at Morgan Creek Capital, said that Avalanche AVAX/USD had the potential to outperform the entire cryptocurrency market, including Bitcoin BTC/USD and Ethereum ETH/USD.

What Happened: In a YouTube video, Yusko had said that AVAX could rally by 50 times in the next bull cycle, provided that Bitcoin and major coins remain successful.

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According to Yusko, the key to investing in this ecosystem was diversification. “Don’t put all your eggs in one basket.”

He said that although Bitcoin may be the largest cryptocurrency by market cap, it won't necessarily be the best-performing investment. This is due to the law of large numbers — the larger something is, the harder it is to achieve large gains on the same scale. 

Yusko had then explained that while Bitcoin possessed the largest market cap, which, in January, stood at $400 billion, even if it were to reach $4 trillion, that would only be a 10-fold increase. Bitcoin's present market cap stands at $551.54 billion.

On Ethereum — which had a market cap of nearly $200 billion in January — Yusko had said then that if it were to reach $4 trillion, it would be almost twice as much of an increase.

“But if Avalanche actually becomes that intermediate layer, or becomes a bridge to connect Ethereum… it could be maybe 50x,” Yusko had added.

Price Action: At the time of writing, AVAX was trading at $18.02, up 5.65% in the last 24 hours, according to Benzinga Pro data.

This story was originally published on Jan. 25, 2023.

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