The Chief Investment Officer of the largest crypto fund in the US predicted that the creation of a national reserve of bitcoins could drive the cryptocurrency's price up to $500,000, writes Business Insider.
Matt Hougan, Chief Investment Officer of Bitwise Asset Management, stated that he sees the potential for the main cryptocurrency's price to rise to $500,000 if the US establishes a national reserve of bitcoins, which implies a 380% increase from the current price of the coin. Hougan recently said in an interview with Yahoo Finance that the purchase of bitcoins by the States would encourage more countries to buy cryptocurrency.
Wall Street is becoming increasingly optimistic about cryptocurrencies, especially considering Trump's second term. Standard Chartered, a company that correctly predicted the rise of bitcoin to $100,000 this year, also forecasts that the price will reach $200,000 by the end of 2025, while other optimistic predictions suggest the token could rise to $500,000.$BTC