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Bitwise CIO Says BTC Could Easily Hit $500K If Trump Administration Creates Bitcoin Reserve
In a recent interview, Bitwise’s Chief Investment Officer, Matt Hougan, has sparked controversy by stating that if the Trump administration were to create a Strategic Bitcoin Reserve, he believes it is possible for the cryptocurrency to reach as high as $500,000.
Hougan emphasized that this development would be too significant to ignore, and governments would likely need to follow suit, potentially causing a supply shock for Bitcoin. Notably, Bitwise has previously predicted that Bitcoin will hit $200,000 in 2025, which has raised eyebrows within the cryptocurrency community.
The comments from Hougan have come under scrutiny by some industry experts, who are skeptical about the likelihood of such an event occurring. Nic Carter, founding partner at Castle Island Ventures, and Arthur Hayes, CEO of BitMEX, have both expressed doubts that a Strategic Bitcoin Reserve will be created during Trump’s administration.
Despite these dissenting views, Hougan remains adamant that this scenario is not only possible but also plausible in the current market environment. The implications of such an event would undoubtedly be far-reaching, and it remains to be seen whether his predictions come true or not.
Source: coinpedia.org
