Bitwise CEO Hunter Horsley has made a bold prediction & said that Bitcoin could reach a $50 trillion valuation. His latest forecast isn’t just about Bitcoin becoming “digital gold.” Instead, Horsley sees Bitcoin stepping into the role of a digital alternative to the U.S. dollar and even competing with U.S. Treasuries.
According to Horsley, Bitcoin’s potential doesn’t stop at gold’s $23 trillion market cap. If Bitcoin taps into the $50 trillion market that includes global dollar-based assets, the cryptocurrency’s future could be much bigger than many expect.
The company is now living up to its words. Currently, under the management of Horsley, the company’s Bitcoin ETF (BITB) has more than 39,000 BTC, roughly equal to $3.67 billion. Of course, their belief in Bitcoin’s future is not just in words but in figures—in their balance sheet.
Interestingly, Bitcoin’s behavior has shifted. It is no longer moving with halvings and hype cycles but rather responding to the global money supply. This is an indication that Bitcoin is gradually being integrated into the financial system or, rather, transitioning to the financial system.
Even if Bitcoin never reaches $50 trillion, it is now apparent that it is no longer simply trying to compete with gold or tech stocks. Bitcoin is not just targeting the financial sector but the world’s financial system.
The question is, how many investors are willing to bet on that future?
Also Read: Bitcoin May Reach $2.4M by 2030, Says ARK Invest Report
