The inimitable Matt Hougan, chief investment officer of Bitwise, has made a prediction that will either be hailed as prophetic or ridiculed as fanciful: Bitcoin, that most mercurial of cryptocurrencies, will ascend to dizzying heights of $200,000 by the end of this year. One can almost hear the sound of champagne corks popping in the distance… or is it the despairing wail of those who have bet against the crypto king? 🤔
In an interview on the White Crypto YouTube channel, Hougan expounded upon his thesis, citing the curious case of demand outstripping supply. It seems that those sellers who have been holding on for dear life are finally, well, almost exhausted. Meanwhile, institutional demand from companies, governments, and ETFs is on the rise, like a phoenix from the ashes. 🔥
“If you look at the amount of Bitcoin on exchange, it’s at record multi-year lows. We think those sellers are almost exhausted. At the same time, we think the institutional demand from companies, governments, and ETFs is increasing. So you have available supply decreasing and institutional demand increasing and rising concerns about the fiat system. We think that is a recipe for a significant end-of-the-year rally. So, our prediction is above $200,000.” Ah, the sweet taste of hubris… or is it genius? 🤓
But wait, there’s more! By 2030, Hougan predicts that the total market cap of Bitcoin will reach parity with that of gold. One can only imagine the look on the faces of those gold bugs when they realize that their precious metal has been supplanted by a digital upstart. 😂
“Gold keeps going up. So that number keeps going up. I think it was like $800,000 when we made that prediction and maybe it’s $1.2 million by now. But we think parity with gold is about where we should end this cycle, which we think stretches for the rest of the decade. There are things that could increase that, and there are things that could decrease that. But we think that’s a reasonable pattern matching from historical cyclical growth. And I know that’s a long way, but I think Bitcoin could do it.” Ah, the eternal optimism of the true believer… 💫
At the time of writing, Bitcoin is trading at a mere $117,110. One can only wonder what the future holds for this most unpredictable of assets. 🤔
Read More
- DOGE PREDICTION. DOGE cryptocurrency
- Calvin Harris Announces India Debut With 2 Shows Across Mumbai and Bangalore in November: How to Attend
- EQT Earnings: Strong Production
- Docusign’s Theatrical Ascent Amidst Market Farce
- The Relentless Ascent of Broadcom Stock: Why It’s Not Too Late to Jump In
- TON PREDICTION. TON cryptocurrency
- The Dividend Maze: VYM and HDV in a Labyrinth of Yield and Diversification
- Why Rocket Lab Stock Skyrocketed Last Week
- Ultraman Live Stage Show: Kaiju Battles and LED Effects Coming to America This Fall
- HBO Boss Discusses the Possibility of THE PENGUIN Season 2
2025-07-12 16:26