On October 30, Matt Hougan, chief investment officer of Bitwise, said today: When you invest in Bitcoin, you are actually making two bets at the same time that Bitcoin will succeed in becoming the "new store of value" and that the government will continue to "misissue fiat money."
As demand for traditional stores of value rises sharply, more investors will gravitate towards owning assets of value. Both bitcoin and gold are inflation-fighting stores of value. Growing investment in "stores of value" assets, combined with continued depreciation of fiat currencies, will quickly push the price of bitcoin to six figures, and each BTC will be worth $200,000. Bitcoin's total market cap is $1.43 trillion, which is currently about 7 to 8% of gold's $18 trillion market cap.
Bitwise CIO: The dollar doesn't need to crash, Bitcoin can reach $200,000
2024-10-30 06:22:21
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