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The manager said that BTC will exceed the capitalization of gold, which is USD 20,000 million.
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Hougan considers that Bitcoin will be used in the future for international transactions.
Matt Hougan, Investment Director (CIO) of Bitwise, has projected that Bitcoin (BTC) will cross the million dollars per unit by 2029.
In a recent interview, the manager of the financial asset management company supported his projection with data on Bitcoin’s offer, the impact of the ETFs and the BTC potential to displace gold and perform a key role in international transactions.
The Bitcoin ETF in the US., A crucial point for Hougan
The nucleus of Hougan’s argument lies in the Institutional adoptionwhich, according to him, is entering a critical stage after the approval of the Bitcoin quoted funds (ETF) in the United States. These instruments have channeled a massive capital flow to the currency created by Nakamoto, transforming it into an accessible asset for traditional investors.
«The ETFs are buying 500,000 bitcoins a year. We are seeing the beginning of an institutional wave that is barely taking off ».
Hougan, CIO Bitwise
Hougan contrasted that figure with the annual production of new bitcoins, which estimates in 160,000 units. This disparity, he explained, will generate a significant pressure on the available offera phenomenon that could shoot the price if demand grows.
According to Sosovalue, the BTC ETFs presented positive net tickets from March 13 to Friday 20, after having suffered great departures at the end of February and early March.
Bitcoin in front of gold: a career for capitalization
The manager also stressed the role of Bitcoin as a direct gold competitor. This last one is a capitalization of around 20,000 million dollars, being the largest asset in that statistic. For its part, BTC market capitalization, at the time of this article, is 1.6 billion dollars.
Hougan argued that Bitcoin is on the way to unseat the gold, which will produce that its price «Cross the million dollars per unit for 2029».
2029: A horizon based on cycles and data
The 2029 temporal horizon is not arbitrary in Hougan’s vision. Linked it so much to Historical market cycles as at a symbolic moment: the twenty -anniversary of the creation of Bitcoin.
«It could happen towards the end of the next decade, but I have set it in 2029, which would coincide with the peak of the next cycle,» he said. This prognosis is aligned with BTC’s tendency to experience significant increases after block reducing events (halving). This Bitcoin scheduled mechanism decreases its emission and reinforces its scarcity, an attribute that Bitwise’s CIO compares favorably with gold properties. The next halving will happen in 2028 and will take the reward for undermining 1,5625 BTC.
Ultimately, Hougan also projected a future in which Bitcoin became a standard for international transactionsalthough he did not delve into it: «I think Bitcoin will be used for cross -border payments and as a global reference asset,» he said
Hougan is not alone in that prediction
In the past, cryptootics has already reported that other analysts or specialists have set the future of BTC in the million dollars.
For example, in November 2024, Adam Back, co -founder and CEO of Blockstream, said that BTC will reach one million dollars at its price driven by the United States strategic reserve based on that digital currency. Also, in March last year, Cathie Wood, executive director of Ark Invest, ordered that Bitcoin’s price will exceed the goal of the million dollars by 2030.
So, while the BTC price is in the $ 84,000 area at the time of this writing, analysts, in the past, and in the present, they reinforce its long -term upward trend.