PANews reported on March 15th, citing CoinDesk, that Matt Hougan, Chief Investment Officer of Bitwise Asset Management, stated that Bitcoin could eventually reachPANews reported on March 15th, citing CoinDesk, that Matt Hougan, Chief Investment Officer of Bitwise Asset Management, stated that Bitcoin could eventually reach
Bitwise CIO: If Bitcoin can capture market share from gold and US Treasury bonds, its price could rise to $1 million.
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PANews reported on March 15th, citing CoinDesk, that Matt Hougan, Chief Investment Officer of Bitwise Asset Management, stated that Bitcoin could eventually reach $1 million per coin if it can capture a larger share of the global store of value market currently dominated by gold and government bonds. However, the $1 million target is less of a precise prediction and more of a simplified representation of Bitcoin's maturation as a major global monetary asset, the outcome of which depends on long-term institutional adoption and the expansion of the store of value market. Some proponents argue that geopolitical tensions, a potential crisis in traditional "safe" assets, and Bitcoin's fixed supply could all accelerate its rise, but most believe this will take a decade or more, rather than be an imminent event.
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