US Strategic Bitcoin Reserve Could Push Price To $500,000: Expert

Quick Summary:

In an exclusive interview with Yahoo Finance, Matt Hougan, Chief Investment Officer at Bitwise Asset Management, shared his bullish outlook on Bitcoin, projecting significant price appreciation by the end of 2025.“We expect Bitcoin to be up above $200,000 by this time next year,” Hougan stated, attributing this forecast to three primary sources of demand: exchange-traded funds (ETFs), corporate investments, and governmental acquisitions.

It ultimately boils down to supply and demand—there’s too much demand and not enough supply, which drives the price higher.” When probed about the sustainability of such demand, Hougan emphasized the gradual awakening of different investor segments to Bitcoin’s value proposition.“People just wake up to Bitcoin at different paces.

Addressing this, Hougan remarked, “If we do get a Bitcoin strategic reserve where the government is buying Bitcoin, as proposed in Senator Lummis’ bill for the government to purchase a million Bitcoin, $200,000 Bitcoin is going to be looking quaint.

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Article Details

Author / Journalist: Jake Simmons

Category: Crypto

Markets: United KingdomAustriaMali

Topics: BTC news Bitcoin news Strategic Bitcoin Reserve Trump Bitcoin Strategic Bitcoin Reserve Bitcoin Btc price Strategic Bitcoin Reserve News Matt Hougan Bitcoin price Btc Bitwise

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-18 @ 15:00:38 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 714 words

Reading Time: 4 minutes read

Sentences: 66 lines

Sentence Length: 11 words per sentence (average)

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Copyright Owner: © NewsBTC

News ID: 24538343

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