👀 As Bitcoin hit $92K after Trump’s crypto-friendly win, Bitwise CIO Matt Hougan argues we’re still in the “early days” until Bitcoin hits $500K. Hougan’s case? Demand for store-of-value assets, like gold and bitcoin, will keep growing as governments pile on debt. 🤔
🏦 He says, “Bitcoin isn’t ‘mature’ until it’s as boring as gold,” held by central banks and institutions without fuss. To reach $500K, bitcoin would need a 50% share of the $20 trillion store-of-value market.
One wildcard? Senator Cynthia Lummis’s proposal for a U.S. national bitcoin reserve. Hougan concludes, “Could Bitcoin reach $1 million? Higher? Absolutely. But $500K feels like a good start.” 📈
