Mark Yusko, the co-founder and CEO of the investment company Morgan Creek Capital, has once again expressed his belief in the imminent rise of Bitcoin (BTC) to six-figure price levels. During a recent conversation with CNBC, Yusko highlighted various factors contributing to this prediction, such as network effects and the upcoming block reward halving. He suggested that based on these factors, the price of Bitcoin could potentially triple its current fair value or double following the block reward halving event.

Yusko outlined a Bitcoin valuation model influenced by Metcalfe's Law, a theory that considers elements like the number of users and miners within the network to estimate a fair value. According to this model, the current fair value of Bitcoin stands at around $50,000. However, with the forthcoming block reward halving, which will decrease rewards for miners, Yusko anticipates a substantial price surge that could propel Bitcoin to $100,000 or even reach as high as $150,000.

Approximately three weeks after the revealing interview with Morgan Creek Capital's CEO, the upcoming 4th block reward halving is scheduled to reduce mining rewards by 50% in terms of Bitcoin. Historically, such events have resulted in heightened scarcity of new supply, subsequently causing an upswing in Bitcoin's market price. Yusko also pointed out that this time, factors such as transaction fees play a more significant role, potentially escalating the fair value of Bitcoin to $75,000.

Yusko foresees a surge in interest surrounding Bitcoin following the block reward halving, which may magnify the fair value of the leading cryptocurrency by two or three times, ultimately propelling the price to record highs roughly nine months after the halving event.

Bitcoin, presently being traded around $70,000, remains a subject of great speculation, particularly concerning the upcoming block reward halving. Yusko envisions a scenario where the demand for Bitcoin surpasses the reduced supply post-halving, leading to a gradual yet robust upward trend in price. This upward trajectory could potentially culminate in the peak around Thanksgiving or Christmas, approximately nine months after the halving.

Yusko's bullish perspective on Bitcoin's price trajectory highlights investor confidence in the long-term potential of the primary cryptocurrency. With the block reward halving poised to stimulate market activity and act as a catalyst for a price upsurge, market participants are eagerly monitoring Bitcoin in anticipation of significant gains in the foreseeable future.