Bitwise CEO Hunter Horsley Predicts Bitcoin Could Reach $1 Million
Hunter Horsley, CEO of Bitwise, believes Bitcoin may reach $1 million as he identifies catalysts for its adoption in 2025, including increased ETF inflows and corporate investments. Despite current price challenges, industry figures support this optimistic outlook for Bitcoin as market conditions evolve.
On February 17, Hunter Horsley, the CEO of Bitwise, expressed increasing confidence in Bitcoin’s potential to reach a $1 million valuation. He questioned the reasons behind Bitcoin’s slow adoption and listed several factors he anticipates will facilitate its growth this year. Investor Fred Krueger noted concerns regarding Bitcoin’s scaling ability but highlighted the interoperability of wrapped versions of Bitcoin on other blockchains.
In outlining his 2025 expectations, Horsley forecasted a rise in inflows into spot Bitcoin ETFs, which have already attracted $40 billion in the United States within their first year. He also predicted increased purchases of Bitcoin by corporations and nations, as 22 U.S. states have proposed legislation to allow their treasuries to invest in it. Furthermore, Horsley anticipates U.S. wealth management firms will begin acquiring Bitcoin for clients while financial institutions develop new services for easier access to the asset.
Horsley expects regulators to provide “productive clarity” surrounding Bitcoin, while geopolitical factors and monetary policies evolve to amplify Bitcoin’s perceived need. He expects prominent figures in finance to express their confidence in Bitcoin, deeming 2025 as a pivotal year for the cryptocurrency. Bitcoin educator Mark Moss concurred, affirming that this cycle is distinctly different from previous ones, highlighting the growing demand for ETFs and interest from sovereign buyers and corporate treasuries.
Currently, Bitcoin faces challenges in rising above $100,000 and has decreased by 1.5% from its weekend highs, hovering just below $96,000 as of Monday’s trading session in Asia. Despite a reduction in volatility and trading within a narrow range for the past two weeks, analysts are closely monitoring its support levels, as Bitcoin transitions through this crucial phase in its price evolution.
In summary, Hunter Horsley of Bitwise remains optimistic about Bitcoin reaching $1 million, supported by trends in ETF inflows and adoption by corporations and nations. The anticipated increased clarity from regulators and the involvement of wealth management firms are expected to further enhance Bitcoin’s legitimacy. However, Bitcoin continues to face price challenges, demonstrating the need for ongoing observation of market dynamics.
Original Source: cryptopotato.com
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