Bitwise Chief Investment Officer Matt Hougan, Bitcoin 
$71,218 He drew attention to some misinterpretations about the future of the price. According to Hougan, the US dollar does not need to lose value for Bitcoin to reach 200 thousand dollars. Instead, it may be enough for Bitcoin to take a share of the gold market.
Bitcoin’s Progress
Hougan noted that Bitcoin is backed by major global financial institutions and remains strong despite various market fluctuations. However, he thinks Bitcoin is not yet fully mature. According to Hougan, media trust is low, and institutional adoption remains limited.
Hougan pointed out that the US government debt was increasing rapidly and the Treasury added approximately $1 trillion in debt in 100 days. He says that this situation leads investors to look for a safe haven. According to him, if the need to store value grows, this market will expand and provide new opportunities for Bitcoin.
Most Likely Scenario: Bull Market
According to Hougan, the most likely scenario is for Bitcoin to increase its market share and the store of value market to grow. He states that this dual development will create significant opportunities for Bitcoin. “Bitcoin can reach $200,000 without needing the dollar to fall. “It can reach this level by grabbing a slice of the gold market,” he says.
Hougan also notes that Bitcoin currently represents about 7% of the market value of gold. He suggests that if this rate increases, the value of Bitcoin may also increase significantly. Emphasizing that Bitcoin has the potential to reach new peaks by showing strong performance recently, Hougan states that it may offer attractive opportunities for investors in the future.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
