Bitwise CIO sees Bitcoin maturity at $500K with growing institutional support

As Bitcoin hits new highs following Donald Trump’s pro-crypto election victory, Bitwise CIO Matt Hougan argues that Bitcoin’s early stage will end at a $500,000 price point, according to The Block. Hougan believes Bitcoin will mature when it reaches a market cap equal to gold, with growing central bank and institutional interest driving its value. Currently, governments hold 20% of global gold reserves but less than 2% of Bitcoin. Hougan notes that as this gap closes, Bitcoin could reach $500,000, marking its maturity in the global store-of-value market.