Bitwise CIO says Bitcoin could grow to $30tn like gold
Matt Hougan of Bitwise Asset Management says Bitcoin could follow gold's expansion to roughly $30tn, while warning that investor behaviour will decide who gains.
Key points
- Hougan compared gold's $2tn-$2.5tn market value at its first US ETF launch in 2004 with its later growth to about $30tn.
- He put Bitcoin's market value at roughly $2tn when its ETFs launched in 2024, and Bitcoin traded at $82,766 at the time of writing.
Bitwise Asset Management's chief investment officer, Matt Hougan, says Bitcoin could grow to about $30tn by following gold's expansion, according to Bitcoin.com News.
Hougan contrasted gold's estimated $2tn to $2.5tn market capitalisation when the first US gold ETF launched in 2004 with its later growth to roughly $30tn. He put Bitcoin's market value at about $2tn when its ETFs launched in 2024, and said it could "easily" do what gold did.
US investors gained direct price exposure after the SEC approved spot Bitcoin products on 10 Jan 2024, letting shares trade on stock exchanges.
Excessive leverage and exhaustion from swings have already hurt participants, he said.
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