Bitcoin Price Set to Skyrocket: Expert Eyes $500K, $1M ‘Within Reach
Matt Hougan, CIO at Bitwise Asset Management, believes bitcoin is still in its early stages despite recent price surges.
He argues that bitcoin won’t fully mature until it reaches $500,000, a milestone he sees as marking its entry into the same category as gold in the store-of-value market. With bitcoin’s market cap currently at $2 trillion compared to gold’s $18 trillion, Hougan predicts bitcoin could eventually capture half of the store-of-value market, pushing its value beyond $500K.
He also foresees even greater potential, with bitcoin’s role in the global economy expanding as institutional and government interest grows, possibly driving prices to $1 million.
Clever Robot News Desk 15th November 2024
