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Bitwise Executive: Until Bitcoin Hits $500K, It’s “Still Early”

Author: Content Editor
Bitwise CIO Matt Hougan believes that Bitcoin's current price surge is just the beginning of its journey, with its true milestone being a price of $500,000 per coin. He argues that Bitcoin is still in its early stages and needs to be widely held by central banks and institutions to be considered a mature store of value. Hougan compares Bitcoin's market size to that of gold and suggests that if it captures 50% of gold's market share, it could reach the $500,000 price target. He also highlights the potential for government adoption, citing U.S. Senator Cynthia Lummis' push for a national Bitcoin reserve. Hougan is optimistic about Bitcoin's future beyond $500,000, suggesting that the total market for store-of-value assets will likely grow, creating additional opportunities for Bitcoin to gain value. He even entertains the possibility of a $1 million Bitcoin in the coming decades. However, for now, he believes $500,000 is a reasonable starting point for Bitcoin.

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