Odaily Planet Daily News: Morgan Creek Capital founder and CIO Mark Yusko said in an interview with CNBC that Bitcoin and the crypto market are in the early stages of a new bull market that may last until next year, when Bitcoin will experience its next halving. "I think the rally has just begun. We have just entered the so-called crypto summer. The Bitcoin halving will lead to a period of accumulation. The halving event is expected to occur in April next year. After the halving event, there is usually a speculative frenzy rush to the top, followed by an overreaction to the downward trend, known as the crypto winter." Mark Yusko also reiterated what he believes to be the most important use case for Bitcoin, that is, Bitcoin is expected to replace gold as the base layer of currency. Yusko said, "Bitcoin is a permanent, immutable ledger that will become the base layer of new currencies in the future. We will build the future financial system on this basis. Other things besides this, such as Ethereum or some other applications of blockchain technology may also play a role. I think Ethereum is more of a substitute for legal currency." (The Daily Hodl) According to previous reports, Mark Yusko believes that the iShares Bitcoin Trust application submitted by BlackRock's iShares division to the US SEC is a potential turning point for the market from bearish to bullish. “We once said that crypto summer would begin on June 15th.”