Morgan Creek CIO sees BTC bottom around Oct. 5, says sold 90% of Solana

Mark Yusko, CIO of crypto-focused asset manager Morgan Creek Capital, said on Sept. 6 that Bitcoin’s recent rebound looked overbought within a bear market and projected a cycle bottom around Oct. 5, or 364 days after the previous peak. Yusko valued Bitcoin at about $105,000 based on Metcalfe’s law, user numbers and trading volume, while noting the price could correct in the short term to around $58,000, near mining power-cost levels. On portfolio allocation, Yusko recommended a five% to 10% Bitcoin weighting for general investors and said people under 35 should focus on volatile assets such as stocks and cryptocurrencies rather than bonds. Yusko also said he had sold 90% of his Solana holdings after generating returns of around 1,000x. He added that altcoin tokens face a structural limitation in lacking claims on fee revenue or cash flow, and stressed that network utility tokens should be clearly distinguished from Bitcoin as a unique store of value.