Bitwise CIO: The ETF launch is Bitcoin's IPO in the U.S. market, and BTC price could surpass $80,000 this year

TechFlow news — Matt Hougan, Chief Investment Officer at Bitwise, said that following the success of spot Bitcoin ETFs, Bitcoin is poised to enter a new era. The launch of these ETFs marks Bitcoin's IPO in the U.S. market.

"It has just triggered tremendous interest from traditional finance—beyond my expectations," he said. "If we see sustained demand exceeding net supply, this will have a positive impact on price and will continue until long-term investors become satisfied and are ready to sell."

Bitwise believes that with capital flowing into spot ETFs and an upcoming Bitcoin halving expected to tighten supply, Bitcoin’s price could surpass $80,000.