Bitwise CIO: $500,000 is Bitcoin’s “mature price point”

Matt Hougan, chief investment officer at Bitwise, said that $500,000 is the "mature price" for Bitcoin, and the market is still in its early stages before Bitcoin reaches the $500,000 level. Matt Hougan pointed out in a letter to investors that the crypto market may fall back - the increase was so large and so fast - but $100,000 Bitcoin seems to be just around the corner. Matt Hougan further mentioned that although central banks currently hold about 20% of the world's gold reserves, they only hold less than 2% of Bitcoin. He cited a proposal by Senator Cynthia Lummis, saying that if the US government plans to establish a Bitcoin reserve, the $500,000 goal is expected to be achieved. (TheBlock)