CandleFocus Bitwise CIO Matt Hougan Says Bitcoin Will Hit $500,000 if US Reserve Bill Passes
2024-12-18
Author: Content Editor
Bitwise CIO Matt Hougan predicts that the price of Bitcoin could surge to as high as $500,000 if the US government establishes a strategic reserve for the cryptocurrency. The idea of a Bitcoin reserve is gaining traction following President Trump's victory, and Hougan believes that it would attract more countries to adopt Bitcoin, increasing demand. He also cites inflows from US Bitcoin spot ETFs, public companies' accumulation of Bitcoin, and growing demand from nations as factors that will drive the price of Bitcoin up. Without the implementation of a US reserve asset, Hougan still expects Bitcoin to reach $200,000 in price next year.
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