Wall Street giant: Bitcoin is about to go wild, $200,000 or even $500,000 is not a dream

The largest U.S. cryptocurrency fund manager predicts that establishing a national reserve of bitcoin could cause the price of the cryptocurrency to jump to as much as $500,000. Matt Hougan, chief investment officer of Bitwise Asset Management, said that if the U.S. creates a national bitcoin reserve, he expects bitcoin to have the potential to reach $500,000, which means that from the current price, bitcoin has a 380% upside. Hougan said that the U.S. purchase of bitcoin will prompt more countries to buy the cryptocurrency. "If a strategic reserve of bitcoin is really established and governments start buying bitcoin, then $200,000 of bitcoin will look outdated," Hougan said. "You're going to see $300,000, $400,000, even $500,000 of bitcoin. This is a big story because governments around the world will have to do this." (Jin Shi)