Deep Tide TechFlow news, on October 30, according to Cointelegraph, Bitwise Chief Investment Officer Matt Hougan stated that even without a collapse of the dollar, the price of Bitcoin could reach six figures due to the growth in investments in 'store of value' assets and the continued devaluation of fiat currencies. In a post on October 29, Hougan responded to a financial advisor's question asking if Bitcoin could reach a value of $200,000 without a dollar collapse. Hougan indicated that Bitcoin will successfully establish itself as a 'new store of value asset,' and that governments will continue to 'abuse fiat currency,' which will naturally lead to increased demand for hard assets like Bitcoin.
He pointed out that Bitcoin's total market value is currently about 7-8% of gold's market value, and that Bitcoin could 'mature' to reach half of gold's total value, making each Bitcoin worth around $400,000. Furthermore, due to governments abusing their control over fiat currency supply through printing money, more investors will tend to hold store of value assets. If Bitcoin only maintains its 7% share relative to gold, and if the demand for Bitcoin alone triples, each Bitcoin's value would reach $200,000. Hougan also mentioned that if Bitcoin matures and the store of value market doubles, Bitcoin's value will quickly reach seven figures.
