Bitwise CEO Hunter Horsley has made an audacious prediction about Bitcoin’s future, forecasting that the cryptocurrency could eventually reach a valuation of $50 trillion. This projection, according to Horsley, is not merely about Bitcoin becoming a store of value akin to “digital gold,” but rather about its potential to evolve into a digital alternative to the U.S. dollar and even challenge U.S. Treasuries.
Horsley’s outlook goes beyond Bitcoin’s current market cap of approximately $23 trillion, which reflects its position as a competitor to gold. He suggests that Bitcoin could tap into the broader $50 trillion market that includes dollar-denominated assets globally. If this happens, Bitcoin’s role in the global financial landscape could be far greater than anticipated.
The company, under Horsley’s leadership, has already shown its commitment to Bitcoin’s future. Bitwise’s Bitcoin Exchange-Traded Fund (ETF), the BITB, currently holds more than 39,000 BTC, valued at around $3.67 billion. This substantial investment signals the firm’s strong belief in Bitcoin’s long-term potential, putting their money where their mouth is.
In recent months, Bitcoin’s behavior has shifted significantly. It no longer seems to be driven by halving events or speculative cycles. Instead, its price appears to be increasingly influenced by the global money supply, signaling that Bitcoin is gradually being woven into the fabric of the financial system.
Even if Bitcoin doesn’t achieve the $50 trillion valuation, it’s clear that it is no longer just competing with gold or technology stocks. Bitcoin now sets its sights on the world’s financial infrastructure. The real question remains: how many investors are willing to place their bets on this vision of the future.
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