,300,000,000 Crypto Fund Chief Strategist Says Bitcoin (BTC) Could Explode Over 2,200% – Here’s His Timeline

$1,300,000,000 Crypto Fund Chief Strategist Says Bitcoin (BTC) Could Explode Over 2,200% – Here’s His Timeline

The chief investment officer of crypto asset manager Bitwise Investments is revealing his massive price target for Bitcoin (BTC) despite the ongoing bear market.

In a new Stansberry Research interview, Bitwise executive Matt Hougan says that Bitcoin could rise more than 2,273% from its current price of $21,062 as he believes BTC will approach gold’s market capitalization more of $11 billion.

“I think it’s perfectly rational to believe that Bitcoin could trade for half a million dollars over time. The way I pulled that number out of the hat is that if Bitcoin had as much wealth as gold has, it would be about half a million dollars per Bitcoin.”

Hougan says he sees Bitcoin’s market capitalization rising to greater heights as BTC overtakes gold as a store-of-value asset.

“If you think five or ten years from now, could Bitcoin be as big a storage wealth as gold? I think the answer is yes. And that leads to half a million dollars per Bitcoin. Will we get there? I don’t know. But I think that’s certainly within the realm of possibility.”

Bitwise’s chief investment strategist says Bitcoin is currently in an “appreciation phase” similar to the one gold went through in the early 1970s, just after the US government ended the pattern. gold, a monetary system in which the US dollar was convertible into a fixed amount. of gold.

“[Bitcoin] is the new digital gold. It’s better than gold and everything gold tries to do. You can move it faster, it’s harder to fake, it’s easier to store [and] it is more difficult to fake. It’s the new gold…

If I’m right, people are going to think about it. [Bitcoin] term as a legitimate way to store wealth, is going through the same phase of appreciation [as gold]. This is when you want to own stores of value, when the world realizes they are valuable, when stores of value are emerging. And that’s where Bitcoin is.

That is why it has been the best performing asset in the world for the last 10 years and I think it has great potential in the future because very few people own it yet.”

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Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl is involved in affiliate marketing.

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