Republican

Donald Trump

Bitcoin’s path to reaching $200,000 doesn’t require a collapse of the US dollar.
Instead, Bitwise Chief Investment Officer Matt Hougan believes there are two key drivers that will support BTC’s upward potential, offering a compelling perspective on its future as an institutional asset.
<h2 id="institutional-maturity">Institutional Maturity</h2>
Responding to a query about the US dollar’s impact on bitcoin’s trajectory, Hougan <a href="https://x.com/Matt_Hougan/status/1851306064571949208" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">explained</a> that investing in it entails making two concurrent bets – one that it will solidify its status as a new “store of value” asset, and another that governments will abuse fiat currencies, thereby increasing demand for alternatives.
He pointed out that BTC currently represents approximately 7% of gold’s market cap, valued at $18 trillion. If bitcoin were to mature to capture 50% of gold’s market share, its value could soar to over $400,000.
On the other hand, if the overall “store of value” market expands and bitcoin maintains its current market share, each BTC could still reach $200,000 if this market triples.
The Bitwise CIO further elaborated that these arguments are interconnected; should bitcoin continue to mature and the store of value market double, the potential price could reach seven figures.
He concluded that while the US dollar’s collapse isn’t necessary for bitcoin to hit $200,000, Its maturation as an institutional asset is crucial. With growing evidence supporting both arguments, Hougan suggests that bitcoin’s trajectory is on the rise, pushing it toward new all-time highs.
<blockquote>
 “So, no, the dollar doesn’t need to collapse for bitcoin to hit $200k. All you need is bitcoin to continue on its current path of maturing as an institutional asset. But it’s increasingly looking like both parts of the argument will come true. That’s why bitcoin is surging toward all-time highs.”
</blockquote>
<h2 id="gold-shines-amid-inflation-worries-election-uncertainty">Gold Shines Amid Inflation Worries, Election Uncertainty</h2>
While bitcoin’s trajectory toward $200,000 largely hinges on its maturation as a ‘store of value’ asset, similar market forces are also driving renewed interest in traditional safe-haven assets like gold.
Investor concerns over inflation, international tensions, and economic instability are driving a renewed focus on gold as a haven asset which soared to a new peak near $2,800. The final stretch of the US presidential election – featuring Republican Donald Trump and Democrat Kamala Harris with contrasting economic agendas – is also amplifying gold’s appeal as a safeguard against uncertainty.
The post <a href="https://cryptopotato.com/bitcoins-path-to-200000-doesnt-depend-on-dollars-demise-claims-bitwise-cio/" rel="noopener noreferrer nofollow">Bitcoin’s Path to $200,000 Doesn’t Depend on Dollar’s Demise, Claims Bitwise CIO</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Bitcoin’s Path to $200,000 Doesn’t Depend on Dollar’s Demise, Claims Bitwise CIO

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