Bitcoin's price could reach $200,000 without the need for a collapse of the US dollar, according to Bitwise CIO Matt Hougan. He believes that Bitcoin's value is driven by its role as a digital store of value and inflationary pressures on fiat currencies. Hougan argues that Bitcoin's market cap has potential for significant growth as it gains acceptance among investors, and it could reach over $200,000 by capturing just 25% of gold's market. He also sees the debasement of fiat currencies, particularly the dollar, as a force that could drive more investors towards Bitcoin as a hedge. Hougan suggests that Bitcoin's utility may extend beyond its role as a store of value and sees it as a potential international settlement layer. However, he cautions investors about the risks of trading in Bitcoin and emphasizes the need for careful consideration of volatility and regulatory concerns. Ultimately, Hougan believes that Bitcoin can reach $200,000 by continuing to grow within these dual drivers.



Other News from Today