Bitwise CIO predicts BTC could reach $6.5M within 20 years

Bitwise Chief Investment Officer (CIO) Matt Hougan predicts that the price of Bitcoin will reach $6.5 million within 20 years, according to Coindesk. He emphasized that central banks will eventually hold Bitcoin and projected that they could potentially own more of it than gold within the next 10 to 20 years. Hougan noted that the crypto market experienced a bear market last year, with many altcoins falling by more than 60%. He stated that Bitcoin avoided a more significant decline due to continuous buying from corporations and ETFs. He analyzed that the crypto market is currently in the late stages of a bear market bottom, describing it as a "rounding bottom phase" characterized by sluggish ETF inflows and reduced participation from retail investors.