Bitwise CIO: BTC 200,000 No Need to Wait for US Dollar Collapse
A curious financial advisor asked if BTC would need an interesting statement about the collapse of the US dollar to rise to $200,000, which surprisingly drew a serious response from Bitwise's investment manager of encryption asset management company.
According to the Japanese media 'CoinPost', Bitwise Investment Director Matt Hougan posted on X on October 30th, stating that even if the US dollar does not collapse, BTC is expected to reach $200,000.
Hougan pointed out that investing in BTC is actually betting on two possibilities:
BTC is expected to become a new store of value method
Governments of various countries may abuse fiat currency, leading to an increased demand in the market for the store of value tool
These two scenarios will send BTC to $200k or $400k.
Hougan further explained that there are two major scenarios in which BTC can surge to over 200,000 US dollars:
Scenario 1: If the BTC market cap accounts for 50% of the gold market cap, up from the current level of about 7%, BTC will rise to more than $400,000.
The second scenario: If the government abuses the legal tender, causing the store of value tool market to expand threefold, and BTC maintains a market share of about 7% in that market, it can break through $200,000.
Hougan believes that both scenarios may occur simultaneously and boldly predicts that as BTC matures and the store of value tool market doubles in size, BTC will eventually rise to seven figures, or $1 million.
Image source: XBitwise Investment Director: 2 scenarios will push BTC to break through 200,000 or 400,000
Can BTC be widely regarded as a store of value tool?
According to CoinPost, the reason why BTC is called "digital gold" is because its total circulation is set at 21 million, and it does not belong to any country or region, similar to physical gold.
In January of this year, the United States Securities and Exchange Commission (SEC) approved the listing of Spot ETF, making it easier for institutional investors to invest in BTC. Recently, in order to combat inflation and hedge against exchange rate risks, more and more companies are choosing to hold BTC, and some companies see investing in BTC as an important strategy, such as MicroStrategy and the Japanese listed company Metaplanet.
Extended reading: Companies that are most adept at buying BTC! The founder of MicroStrategy tells you "this reason" why Taiwanese people should buy BTC.
In October of this year, the US non-profit think tank BTC Policy Institute (BPI) released a report explaining that central banks around the world should consider BTC as a reserve asset, emphasizing its outstanding performance during economic crises and its long-term performance surpassing other assets.
Standard Chartered also optimistic about Bitcoin soaring to 12.5 million
Before reaching 200,000, BTC may have a chance to challenge a high point of over $100,000 by the end of this year.
According to Cointelegraph, Standard Chartered Bank analyst Geoff Kendrick predicts that if the Republican Party gains an advantage in the US election on November 5th, BTC is expected to rise to $125,000 by the end of this year.
Kendrick predicts that BTC will rise to about $73,000 before the US election. If Trump is elected, BTC will immediately pump by about 4%, and a few days later it will pump another 10%.
However, if Ho King-fun is elected in the end, BTC will fall in the short term, but it is still expected to rise to around 75,000 US dollars by the end of this year.
As of October 31, according to RealClearPolitics' data, Trump's current approval rating is 48.4%, while Harris is at 48%; while Fivethirtyeight's national poll data shows that Harris' approval rating is 48.1%, slightly surpassing Trump's 46.7%, with the situation between the two sides being evenly matched.
Both Bitwise and Standard Chartered Bank experts are optimistic about the future of BTC, whether from a fundamental or political perspective. It is expected that under the push of multiple favorable factors, BTC is expected to reach a high point of over 100,000 US dollars in the future.
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No need to wait for the US dollar to collapse! Bitwise investment director: 'These 2 situations' will send BTC to 400,000
Bitwise CIO: BTC 200,000 No Need to Wait for US Dollar Collapse
A curious financial advisor asked if BTC would need an interesting statement about the collapse of the US dollar to rise to $200,000, which surprisingly drew a serious response from Bitwise's investment manager of encryption asset management company.
According to the Japanese media 'CoinPost', Bitwise Investment Director Matt Hougan posted on X on October 30th, stating that even if the US dollar does not collapse, BTC is expected to reach $200,000.
Hougan pointed out that investing in BTC is actually betting on two possibilities:
BTC is expected to become a new store of value method
Governments of various countries may abuse fiat currency, leading to an increased demand in the market for the store of value tool
These two scenarios will send BTC to $200k or $400k.
Hougan further explained that there are two major scenarios in which BTC can surge to over 200,000 US dollars:
Scenario 1: If the BTC market cap accounts for 50% of the gold market cap, up from the current level of about 7%, BTC will rise to more than $400,000.
The second scenario: If the government abuses the legal tender, causing the store of value tool market to expand threefold, and BTC maintains a market share of about 7% in that market, it can break through $200,000.
Hougan believes that both scenarios may occur simultaneously and boldly predicts that as BTC matures and the store of value tool market doubles in size, BTC will eventually rise to seven figures, or $1 million.
Image source: XBitwise Investment Director: 2 scenarios will push BTC to break through 200,000 or 400,000
Can BTC be widely regarded as a store of value tool?
According to CoinPost, the reason why BTC is called "digital gold" is because its total circulation is set at 21 million, and it does not belong to any country or region, similar to physical gold.
In January of this year, the United States Securities and Exchange Commission (SEC) approved the listing of Spot ETF, making it easier for institutional investors to invest in BTC. Recently, in order to combat inflation and hedge against exchange rate risks, more and more companies are choosing to hold BTC, and some companies see investing in BTC as an important strategy, such as MicroStrategy and the Japanese listed company Metaplanet.
Extended reading: Companies that are most adept at buying BTC! The founder of MicroStrategy tells you "this reason" why Taiwanese people should buy BTC.
In October of this year, the US non-profit think tank BTC Policy Institute (BPI) released a report explaining that central banks around the world should consider BTC as a reserve asset, emphasizing its outstanding performance during economic crises and its long-term performance surpassing other assets.
Standard Chartered also optimistic about Bitcoin soaring to 12.5 million
Before reaching 200,000, BTC may have a chance to challenge a high point of over $100,000 by the end of this year.
According to Cointelegraph, Standard Chartered Bank analyst Geoff Kendrick predicts that if the Republican Party gains an advantage in the US election on November 5th, BTC is expected to rise to $125,000 by the end of this year.
Kendrick predicts that BTC will rise to about $73,000 before the US election. If Trump is elected, BTC will immediately pump by about 4%, and a few days later it will pump another 10%.
However, if Ho King-fun is elected in the end, BTC will fall in the short term, but it is still expected to rise to around 75,000 US dollars by the end of this year.
As of October 31, according to RealClearPolitics' data, Trump's current approval rating is 48.4%, while Harris is at 48%; while Fivethirtyeight's national poll data shows that Harris' approval rating is 48.1%, slightly surpassing Trump's 46.7%, with the situation between the two sides being evenly matched.
Both Bitwise and Standard Chartered Bank experts are optimistic about the future of BTC, whether from a fundamental or political perspective. It is expected that under the push of multiple favorable factors, BTC is expected to reach a high point of over 100,000 US dollars in the future.