If Bitcoin matures as a store-of-value asset and governments continue to debase their fiat currencies, its price will surge well into six-figure territory, predicts Bitwise CIO Matt Hougan.
Growing investment in “store-of-value” assets and continued fiat currency devaluation could propel the price of Bitcoin to six figures without the need for the US dollar to collapse, says Bitwise Chief Investment Officer Matt Hougan.
In an Oct. 29 post to X, Hougan addressed a question he’d received from a financial advisor, which asked whether or not Bitcoin could reach a value of $200,000 without some kind of US currency collapse. “When you invest in Bitcoin, you’re actually making two bets at once,” said Hougan in a post in response to the question.
He said that Bitcoin (BTC) will succeed in establishing itself as a “new store-of-value asset” while governments will continue to “abuse fiat currencies” — something that will naturally result in increased demand for hard assets like BTC.
