Bitcoin is hovering above $106,000, near its all-time high. Bitwise Asset Management’s CIO Matt Hougan expects the cryptocurrency to continue rising and potentially reach $200,000 by next year.
Hougan believes institutional investors are driving the surge, as they begin to adopt bitcoin into their portfolios. “Once they realize that bitcoin is not going away, it belongs in a portfolio,” he notes.
This shift has significant implications for Bitcoin’s pricing. The tailwind from increased US investment could further boost the cryptocurrency’s value. Meanwhile, Coinbase Global’s growth potential remains an important consideration.
Market experts are optimistic about the future of bitcoin and the crypto market as a whole. With more investors entering the space, the market is expected to continue its upward trend.
Source: https://finance.yahoo.com/video/us-strategic-could-push-bitcoin-213000587.html