{"id":18559,"date":"2024-11-13T17:52:10","date_gmt":"2024-11-13T15:52:10","guid":{"rendered":"https:\/\/forklog.com\/en\/bitwise-cio-predicts-bitcoins-maturity-at-500000\/"},"modified":"2024-11-13T17:52:10","modified_gmt":"2024-11-13T15:52:10","slug":"bitwise-cio-predicts-bitcoins-maturity-at-500000","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitwise-cio-predicts-bitcoins-maturity-at-500000\/","title":{"rendered":"Bitwise CIO Predicts Bitcoin&#8217;s Maturity at $500,000"},"content":{"rendered":"<p>A price of $500,000 will signify Bitcoin&#8217;s transition into maturity; until then, the leading cryptocurrency remains in its &#8220;early stage.&#8221; These insights were <a href=\"https:\/\/experts.bitwiseinvestments.com\/cio-memos\/bitcoin-to-500k\">shared<\/a> by Bitwise CIO Matt Hougan.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>&#8220;In my view, $500,000 per coin is the right boundary between the early and late stage for a very simple reason: it is the point at which Bitcoin becomes &#8216;mature&#8217;,&#8221; the expert noted.<br \/><\/cite><\/p><\/blockquote>\n<p>Hougan emphasized that investing in the leading cryptocurrency currently involves betting on two simultaneous outcomes:<\/p>\n<ul class=\"wp-block-list\">\n<li>The demand for savings assets will grow;<\/li>\n<li>Bitcoin will be increasingly perceived as a savings asset and eventually stand alongside gold.<\/li>\n<\/ul>\n<p>Regarding the first point, he noted that governments worldwide continue to accumulate debt and devalue their currencies, increasing demand for gold and, prospectively, cryptocurrency.<\/p>\n<p>The second bet, according to the investment expert, remains uncertain. Until Bitcoin equals gold and becomes a conventional asset for central banks and institutional investors, the &#8220;early stage&#8221; will persist.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>&#8220;No one is bothered when institutions allocate funds to gold or when central banks invest billions from their balances. You don&#8217;t read tons of skeptical stories in the media about gold, nor do you see sitting US senators rallying armies against gold. Gold has &#8216;made it&#8217;,&#8221; Hougan wrote.<\/cite><\/p><\/blockquote>\n<p>He estimates the market capitalization of savings assets to be around $20 trillion. Of this, <a href=\"https:\/\/companiesmarketcap.com\/gold\/marketcap\">$18 trillion<\/a> represents gold, and approximately $2 trillion represents Bitcoin. In its &#8220;mature&#8221; form, the leading cryptocurrency should at least split this market equally with the precious metal.<\/p>\n<p>Considering the maximum possible number of coins at 21 million BTC, such a balance can be achieved at a price of $500,000. For this to happen, according to Hougan, central banks must start investing in cryptocurrency alongside gold.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>&#8220;Today, governments own about 20% of the world&#8217;s gold reserves compared to less than 2% of all Bitcoins. To bring Bitcoin closer to the $500,000 level, we need to narrow this gap,&#8221; the expert concluded.<\/cite><\/p><\/blockquote>\n<p>BlackRock CEO Larry Fink believes that the leading cryptocurrency already serves as a worthy alternative to traditional investments in exchange-traded commodities, including gold, and this acceptance will only expand. He compared Bitcoin&#8217;s current dynamics to the early period of the mortgage market, which reached a capitalization of $11 trillion.\u00a0<\/p>\n<p>Earlier, former BitMEX head Arthur Hayes stated that Donald Trump&#8217;s policies could lead to a dollar collapse and push Bitcoin to $1 million.\u00a0<\/p>\n<p>In late October, Hougan suggested that Bitcoin could rise to $200,000 even without the collapse of the US currency system.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A price of $500,000 will signify Bitcoin&#8217;s transition into maturity; until then, the leading cryptocurrency remains in its &#8220;early stage.&#8221; These insights were shared by Bitwise CIO Matt Hougan. &#8220;In my view, $500,000 per coin is the right boundary between the early and late stage for a very simple reason: it is the point at [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18558,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[949,1146],"class_list":["post-18559","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitwise","tag-cryptocurrency-market-forecasts"],"aioseo_notices":[],"amp_enabled":true,"views":"9","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/18559","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=18559"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/18559\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/18558"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=18559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=18559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=18559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}