The price of Bitcoin could hit $300,000 by 2028, according to Morgan Creek Capital Management founder and CEO Mark Yusko. 

Speaking on CoinDesk TV's First Mover, Yusko made the prediction whilst comparing the world's largest cryptocurrency by market cap to gold. 

Gold is not divisible or portable, whereas Bitcoin is, he stated. "Bitcoin fixes both of these issues and is equally scarce," he went on to add.

"The monetary value of gold is about 6 trillion; I think Bitcoin can replace all of that; the monetary equivalent of $6 trillion is about a 10X from here, which gives us a price of about $300K," said Yusko.

He forecasts the BTC price could reach $300,000 by 2028 when another halving event is taking place, CoinDesk reports.

Indeed, Bitcoin rewards that miners receive for mining a block are halved every four years in order to control the blockchain's supply economics. Halving events are typically viewed as a positive for the price of Bitcoin as they lower inflationary pressure on BTC.

The next halving is scheduled for April 2024, with another taking place in 2028. 

The bullish prediction by Yusko is based on previous examples of how the price of the world's largest crypto was impacted after each prior halving event. "Every [Bitcoin] halving, we've added a zero, and by next April, I think we could go to $100,000," he said. 

His view was echoed by Standard Chartered Bank, who recently announced Bitcoin could reach $120,000 by the end of the year, whilst crypto services provider Matrixport believes BTC could reach a high of $125,000 by the end of next year.

Since the beginning of the year, Bitcoin has risen around 70% and, at the time of writing, is trading at $29,300 after declining 64% last year.