Matt Hougan – Chief Investment Officer (CIO) of leading cryptoasset management firm Bitwise – recently shared an optimistic view on Bitcoin's price trend. In an interview with CNBC Television, he stated that strong demand from large institutions combined with limited supply could push Bitcoin's price up by 70% from its current level, and even potentially reaching $200,000 by the end of this year.
According to Hougan, the market is currently witnessing a clear conflict between massive demand and tight supply. "The Bitcoin network only mines around 450 BTC per day, while just yesterday, ETF funds purchased up to 10,000 Bitcoin. This creates an unprecedented buying pressure," he noted.
He emphasized that institutional investors' participation in Bitcoin is an important historical process that will continue for years to come. However, its impact is gradually becoming evident in the short term, with Bitcoin's price steadily increasing as supply fails to keep up with demand. "This is a natural market reaction: prices will continue to rise when demand exceeds supply. I believe Bitcoin's growth journey is still long, and reaching the $200,000 mark by the end of the year is entirely possible," he shared.
Beyond supply and demand factors, Hougan also pointed out that Bitcoin is becoming a safe digital asset storage tool, especially in the context of increasingly unstable global economic and political environments. "Amid global geopolitical tensions and trade risks, many people are seeking to protect their assets in a decentralized and digitized manner, and Bitcoin is the top choice."
He concluded that while emotional factors significantly influence traditional financial markets like stocks and bonds, Bitcoin is being driven by real demand for decentralized financial services, particularly from long-term investors and large institutions.
