Matt Hougan, Bitwise’s CIO, reiterated the potential for Bitcoin to hit 1,000,000 USD, viewing it as a competitor to gold in the global store of value market valued at nearly 38 trillion USD.
He noted that with a compound annual growth rate of 13% over the next decade, the market could swell to approximately 121 trillion USD, allowing Bitcoin to capture around 17% to reach its target price.
Recent trends in institutional investments support this outlook, as significant funds have begun allocating to Bitcoin, although risks such as government debt remain present.
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