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The post <a href="https://cryptosnewss.com/bitcoins-path-to-1-million-expert-predicts-milestone-within-reach/" rel="noopener noreferrer nofollow">Bitcoin’s Path to $1 Million: Expert Predicts Milestone Within Reach</a> appeared first on<a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow"> Cryptos Newss</a>.Bitwise&#39;s Matt Hougan predicts that <a href="https://cryptosnewss.com/category/bitcoin-news/" rel="noopener noreferrer nofollow">Bitcoin’s</a> maturity threshold is $500,000, with a $1 million valuation being &#34;absolutely&#34; attainable as Bitcoin starts to rival gold.In Hougan&#39;s view, $500K per coin marks the transition from Bitcoin&#39;s early to late phase. This outlook is based on Bitcoin’s potential to reach a status similar to gold in the store-of-value market.Hougan believes that as Bitcoin&#39;s acceptance grows, it will achieve parity with gold, which has a market valuation of $18 trillion, compared to Bitcoin’s current $2 trillion.Hougan explains, “Why $500K? Today, gold is an $18 trillion market, and Bitcoin is approximately $2 trillion. This puts the store-of-value market at roughly $20 trillion. A mature Bitcoin would, at a minimum, share this market equally with gold.”He also notes that there are about 20 million Bitcoins in circulation, with another million expected to be issued over the next century.Once Bitcoin reaches a valuation of $500,000 per coin, it would represent about half of the store-of-value market, equivalent to gold’s share. Until that point, Hougan considers it still early.Hougan anticipates even higher valuations beyond this threshold, stating, “But ultimately, I think we will go higher. My $500K target is based on Bitcoin taking market share from gold, but I believe it will actually grow the overall market.”He suggests that as governments increase debt and currency production, the value of stores like <a href="https://cryptosnewss.com/bitcoin-nears-90k-as-post-election-momentum-fuels-rally/" rel="noopener noreferrer nofollow">Bitcoin</a> will inflate. Hougan concludes:“Could we see $1 million Bitcoin? Higher? Absolutely. But $500K feels like a good start.”His comments reflect a belief in Bitcoin’s transformative potential, with institutional and governmental interest in cryptocurrency continuing to rise, indicating a mature, stable role for Bitcoin in the global economy is on the horizon.The post <a href="https://cryptosnewss.com/bitcoins-path-to-1-million-expert-predicts-milestone-within-reach/" rel="noopener noreferrer nofollow">Bitcoin’s Path to $1 Million: Expert Predicts Milestone Within Reach</a> appeared first on<a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow"> Cryptos Newss</a>.

Bitcoin’s Path to $1 Million: Expert Predicts Milestone Within Reach

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