$200,000 Bitcoin Price Target To Look ‘Quaint’ if US Government Launches BTC Reserve: Bitwise CIO Matt Hougan

The chief funding officer of crypto asset administration agency Bitwise predicts that Bitcoin will soar effectively above $200,000 if the US ever launches a strategic reserve of BTC.

In a brand new interview on Yahoo Finance, Bitwise CIO Matt Hougan say that if the US authorities implements a strategic Bitcoin reserve, different governments all over the world ought to comply with swimsuit, sending the flagship crypto asset to astronomical new all-time highs.

“If we get a strategic Bitcoin reserve the place the federal government buys Bitcoin – and there’s a invoice from Senator Lummis that [would have] the federal government buys one million Bitcoin – $200,000 Bitcoin goes to look unusual. You are going to be $300,000, $400,000, $500,000 Bitcoin. It is simply too huge of a narrative as a result of governments all over the world must be doing it.”

Hougan believes {that a} strategic reserve for Bitcoin has develop into extra probably beneath newly elected US President Donald Trump and his administration.

“When this authentic concept got here up, I used to be considerably skeptical about it. However over the months it hasn’t disappeared. In reality, we proceed to see leaders within the Trump administration suggesting they’re open to it. I nonetheless suppose the prospect is perhaps lower than 50%, nevertheless it’s not zero. And once more, if it occurs, or if we begin to see it occur in different international locations, you are going to see a rift in Bitcoin that makes 2024 look fairly docile compared.”

Hougan says Bitcoin will rise by greater than 91% of its present worth on the similar time subsequent 12 months resulting from “irresistible” demand.

“We count on Bitcoin to rise above $200,000 this time subsequent 12 months. It is simply three unstoppable sources of demand that drive the market. You have got ETFs (change traded funds) sucking up Bitcoin. You have got public firms like MicroStrategy sucking up Bitcoin. And now we’re speaking about governments sucking up Bitcoin. In the end it comes down to provide and demand. There may be an excessive amount of demand, too little provide. And so I feel the value will go increased in 2025.”

Bitcoin is buying and selling at $104,532 on the time of writing, down 2.5% prior to now 24 hours.

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