Hunter Horsley, the CEO of Bitwise, has made a bold prediction that Bitcoin's value could reach $50 trillion if it becomes a digital alternative to the US dollar.
Bitcoin as an Alternative to Gold
Horsley claims that Bitcoin represents a more valuable store of value compared to gold, which is estimated to be worth around $23 trillion. He compared Bitcoin to US Treasuries and the US dollar, which aggregate to approximately $50 trillion. In his view, when choosing a digital store of value, Bitcoin becomes the preferred option.
Bitwise's Growing BTC Investments
Under Horsley's leadership, Bitwise has significantly increased its assets in Bitcoin, with their BITB ETF now holding over 39,000 BTC, valued at approximately $3.67 billion. This position further solidifies his confidence in Bitcoin's future.
Rising Institutional Adoption of Bitcoin
As of this writing, Bitcoin is trading at $94,118.85, with a market capitalization of $1.86 trillion. Increased institutional adoption of Bitcoin is being observed from companies like Metaplanet and Semler Scientific, creating a foundation for further growth.
Hunter Horsley's predictions about Bitcoin's potential, combined with rising institutional interest, underline the importance of using Bitcoin as a store of value in the future.
