Text: Bian Chun‍‍‍

Chief Investment Officer (CIO) of Bitwise, the largest cryptocurrency fund management company in the United States Matt Hogan recently predicted that if the United States establishes a Bitcoin reserve, the price of Bitcoin may soar to $500,000.

This means that Bitcoin is expected to rise nearly 400% from its current price. According to data from cryptocurrency news network Coindesk, Bitcoin price is currently quoted at $100,475.

After Federal Reserve Chairman Jerome Powell said on Wednesday that the Fed does not plan to hold digital currencies, he hinted that Bitcoin prices have tumbled, falling nearly 5% in the past 24 hours, after taking a more cautious approach to interest rate cuts next year. Earlier this week, the cryptocurrency hit an all-time high of over $108,000.

Hogan said U.S. purchases of Bitcoin will drive more purchases of the cryptocurrency.

"If we really build a Bitcoin strategic reserve and buy Bitcoin...$200,000 Bitcoin looks a little conservative. You're going to see $300,000, $400,000, $500,000 in Bitcoin, and that's a big deal because people all over the world are going to do it," Huo said. Root representation.

Horgan said he was skeptical when Trump first floated the idea of ​​a Bitcoin reserve during the campaign. But he pointed out that the idea “has not gone away.” Wyoming Senator Cynthia Loomis recently introduced a new encryption bill, and more people within Trump said they were opposed to the idea of ​​establishing a strategic Bitcoin reserve. Be open minded. Trump also hinted again at establishing a Bitcoin reserve during an interview at the New York Stock Exchange last week.

"I still think, you know, maybe this (building a Bitcoin reserve) is less than possible 50%, but it’s not zero,” he added. “Again, if this happens, or we start to see it happen in other places, you’re going to see Bitcoin explode, compared to the rally in 2024) will appear quite mild.

Bitcoin has risen 55% since the U.S. presidential election and more than 140% this year.

Putting aside the strategic reserve of Bitcoin, Hogan said that as investor demand continues to rise, Bitcoin is expected to climb to $200,000 in the next year .

He believes that Bitcoin has three "irrepressible" sources of demand, namely ETFs, Microstrategy (the listed company that holds the largest number of Bitcoins in the world) and the possibility of becoming Bitcoin. Coin buyers by country.

"Ultimately, it comes down to supply and demand. Too much demand, not enough supply, so I think 2025 (Bitcoin) prices will be higher,” he added.

Optimism about cryptocurrencies is growing on Wall Street as Trump approaches his second term.

Standard Chartered Bank, which accurately predicted that Bitcoin would climb to US$100,000 this year, also predicted that by the end of 2025, the price of Bitcoin would reach US$200,000, and some even more Bold bulls predict Bitcoin will rise to $500,000. Cryptocurrency lobbyist and Chamber of Digital Commerce CEO Perianne Boring even boldly shouted the slogan that Bitcoin will exceed $800,000 next year.