TechFlow news, October 30 — According to Cointelegraph, Bitwise Chief Investment Officer Matt Hougan said on October 29 that bitcoin's price could reach six figures due to growing investment in "store-of-value" assets and the ongoing devaluation of fiat currencies—even without a collapse of the U.S. dollar. In a post responding to a financial advisor’s question about whether bitcoin could reach $200,000 without a dollar collapse, Hougan stated that bitcoin will successfully establish itself as a "new store-of-value asset," while governments continue to "abuse fiat currency," naturally driving increased demand for hard assets like bitcoin.
He noted that bitcoin’s current total market capitalization is about 7-8% of gold’s market cap, and if bitcoin were to "mature" and reach half of gold’s total value, each bitcoin could be worth approximately $400,000. Additionally, as governments continue abusing control over fiat money supply through money printing, more investors will favor holding store-of-value assets. If bitcoin maintains its current 7% relative share of gold’s value but demand for bitcoin alone triples, each bitcoin would reach $200,000. Hougan also suggested that if bitcoin matures and the store-of-value market doubles, bitcoin’s value could quickly enter seven-figure territory.
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