Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Bitwise Chief Investment Officer: Bitcoin will rise to $500,000 or more

Bitwise Chief Investment Officer: Bitcoin will rise to $500,000 or more

CointimeCointime2024/11/13 01:44
By:Cointime

the Chief Investment Officer of Bitwise stated that $500,000 per Bitcoin is the correct boundary between early and late stages of Bitcoin. Currently, the market size of gold is $18 trillion, while Bitcoin is around $2 trillion, making the market size of value storage about $20 trillion. When Bitcoin matures, it will at least share the market with gold. Currently, there are about 20 million Bitcoins in existence, with the remaining 1 million to be issued in the next century. Therefore, when Bitcoin reaches $500,000, it will occupy half of the market share.

Currently, governments hold about 20% of the world's gold reserves, while the proportion of those who hold all Bitcoin is less than 2%. To get Bitcoin closer to the $500,000 mark, we need to see this gap narrow. This is a daunting task, but we have seen some progress. Perhaps the biggest example here is the plan by Cynthia Lummis, a Republican Senator from Wyoming, to establish a national Bitcoin reserve in the United States, with the goal of using government funds to purchase more than $80 billion worth of Bitcoin. If we begin to see this happen, a $500,000 Bitcoin is entirely possible.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

WisdomTree, Which Manages $100 Billion, Names Two Altcoins! "These Will Lead the 2025 Rally!"

WisdomTree argued that XRP and Solana (SOL) will lead the altcoin rally in 2025.

Bitcoinsistemi2025/03/07 01:00

Bitcoin and Ethereum Spot ETFs Continue to Make Outflows as Market Anxiety Continues! Here Are the DetailsBitcoin and Ethereum Spot ETFs See $101.6 M

Bitcoin (BTC) and Ethereum (ETH) spot exchange-traded funds (ETFs) experienced significant net outflows on March 5.

Bitcoinsistemi2025/03/07 01:00

Hours Before the Critical White House Summit, Shocking Claim About XRP-Solana Arrived! – Solana Founder Revealed His Surprising Choice!

Ripple Labs allegedly pressured Trump to include Solana in its crypto reserve to legitimize the inclusion of XRP.

Bitcoinsistemi2025/03/07 01:00