US EditionBitwise CIO Makes a Straightforward Case for $1 Million Bitcoin
Bitwise CIO Matt Hougan projects bitcoin could reach $1 million in about 10 years if the store-of-value market grows from $38 trillion to $121 trillion, capturing 17% share.
- In a memo shared Tuesday, Hougan argues bitcoin could reach $1 million in 10 years, citing the growth of the store-of-value market and gold's rise.
- Hougan argues the common error is using static math and the wrong denominator, citing gold's rise from roughly $2.5 trillion to nearly $40 trillion to show market expansion.
- Today the store-of-value market totals just under $38 trillion and bitcoin remains less than 4%, with Hougan's method dividing market share by 21 million.
- Market technicians and analysts noted that while bitcoin remained near $1 million, ETF flows and higher lows on charts suggest cautious optimism, despite investor caution.
- Looking ahead, Hougan estimates the store-of-value market could grow to about $121 trillion in 10 years and says investors often underestimate bitcoin's upside by anchoring to today's market.
18 Articles
18 Articles
$1M Bitcoin 'Sounds Crazy,' but Bitwise CIO Says the Math Points Higher
Bitcoin could reach $1 million if it captures roughly 17% of a projected $121 trillion global store-of-value market, according to Matt Hougan, chief investment officer at Bitwise Asset Management. In a recent memo, he explained how long-term market expansion could support significantly higher prices for the digital asset. Math Behind The Target Hougan said the idea initially appears unrealistic because a $1 million valuation would require Bitcoi…
The scenario seems huge. Yet Bitwise argues that a $1 million bitcoin does not necessarily imply total dominance over gold. According to Matt Hougan, the company's investment manager, it would be enough for bitcoin to capture about 17% of the global value reserve market within ten years to reach this symbolic threshold. The Bitcoin article would not need to dominate gold to target 1 million, according to Bitwise appeared first on Cointribune.
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