Bitcoin's price could skyrocket to a staggering $500,000 if Donald Trump establishes a national Bitcoin reserve, according to Bitwise CIO Matt Hougan ¹. This bold prediction is based on the assumption that a US-backed Bitcoin reserve would drastically increase institutional demand, driving the price to unprecedented heights.
Hougan's statement echoes the sentiments of other experts, such as Galaxy Digital CEO Mike Novogratz, who forecasts a potential 400% price surge if the US adopts Bitcoin as a strategic reserve asset ². Additionally, Fundstrat's Sean Farrell suggests that a US Bitcoin reserve could push the price to $500,000, although he acknowledges that this scenario is still a long shot ³.
It's essential to note that these predictions are based on speculative assumptions and should be taken with caution. The cryptocurrency market is notoriously volatile, and prices can fluctuate rapidly. Nevertheless, the idea of a US-backed Bitcoin reserve has sparked intense interest and debate within the crypto community.
