The CIO of the Major Investment Company Reveals His Prediction for the Level the Bitcoin Price May Reach in the Near Future

Bitwise’s Chief Investment Officer Matt Hougan believes that Bitcoin’s price could skyrocket to $100,000 or even $200,000 in the near future due to high demand and limited supply.

In a recent interview, Hougan explained that Bitcoin’s rapid rise of up to 50% this year alone is due to the intense interest in new spot Bitcoin ETFs.

“There’s simply too much demand and not enough supply,” Hougan said. Hougan noted that the launch of Bitcoin ETFs has been a major driver of this trend. “This is Bitcoin’s IPO moment. We’re in a new period of price discovery, and prices could go significantly higher from here,” he said.

With Bitcoin trading near an all-time high of $62,000, Hougan noted that demand for Bitcoin ETFs has been increasing across a range of investor categories, including retail investors, hedge funds, and independent financial advisors. However, he expects institutional interest to accelerate in the coming months.

“After this interview, I will be flying out to meet with one of the top institutional advisors in the U.S. about our ETF,” Hougan said, adding that the wave of institutional capital could push prices even higher.

Hougan attributed Bitcoin’s price rally to a sharp imbalance between supply and demand. He cited data showing that around 30,000 Bitcoins were purchased by ETFs in a week, while BTC miners produced fewer than 3,000 new coins in the same period. He also pointed to the upcoming BTC halving event, which he said would further reduce the coin’s supply and put additional upward pressure on prices.

Looking ahead, Hougan suggested that Bitcoin could even exceed $200,000 if these conditions continue, and he expects innovation in the ETF space to continue.
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