Bitwise CIO: Bitcoin can reach $200,000 without the dollar crashing

On October 30th, Matt Hougan, the Chief Investment Officer of Bitwise, stated that when investing in Bitcoin, you are actually making two bets: one on Bitcoin becoming a "new store of value asset" and the other on governments continuing to "overprint fiat currency." As demand for traditional store of value assets rises, more investors will lean towards owning value assets. Bitcoin and gold are both means of storing value against inflation, and as investment in value storage assets continues to grow and fiat currency continues to depreciate, Bitcoin's price will soon rise to six figures, with each BTC being worth $200,000. Bitcoin's total market value is $1.43 trillion, which is currently about 7-8% of gold's market value of $18 trillion.