Matt Hougan, Chief Investment Officer at Bitwise, has made a bold prediction for Bitcoin’s future price, suggesting it could reach $100,000 to $200,000 or even higher. Hogan’s forecast is based on the surging demand for Bitcoin ETFs and the growing interest from both retail and institutional investors.
Matt Hougan Thinks Bitcoin’s Price Growth Was Due to the ETFs
In a recent interview, Hogan highlighted the significant increase in Bitcoin’s price since the beginning of the year, driven in part by the launch of several spot Bitcoin ETFs. He emphasized that the demand for these ETFs is coming from a diverse range of investors, including retail investors, hedge funds, and institutional investors.
Matt Hougan believes that the availability of Bitcoin ETFs has made it easier for investors to access the cryptocurrency market, leading to a surge in demand. He compared the current situation to Bitcoin’s “IPO moment,” suggesting that the price could continue to rise substantially.
While acknowledging the potential for consolidation among Bitcoin ETFs, Hogan expressed confidence in the long-term viability of multiple players in the market. He noted that the popularity of Bitcoin ETFs has been unprecedented, and that there is ample room for growth in this sector.
