Gate News reports that on March 15, Bitwise Asset Management Chief Investment Officer Matt Hougan stated that if Bitcoin can capture a larger share of the global store of value market currently dominated by gold and government bonds, the price of Bitcoin could eventually reach $1 million per coin. Hougan noted that the $1 million target is less of an exact prediction and more of a statement that Bitcoin is maturing into a major global monetary asset. Its achievement depends on long-term institutional adoption and the expansion of the store of value market. Supporters believe that geopolitical tensions, potential crises in traditional “safe” assets, and Bitcoin’s fixed supply could accelerate its rise, but most think this would take ten years or more, rather than being an achievable short-term goal.
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