Bitwise CIO Matt Hougan said Bitcoin could eventually reach $6.5 million per coin over the next 20 years, driven by rising global debt, long-term currency debasement and sustained institutional adoption.
Hougan said Bitcoin appears to be forming a late-stage bear market bottom following a weak 2025, even as broader sentiment remains cautious.
In the near term, he expects Bitcoin to trade within a wide $75,000 to $100,000 range before stronger momentum develops.
Hougan added that while central banks are still years away from directly holding Bitcoin, early-stage research and discussions around its role as a reserve asset are already underway, pointing to gradual mainstream acceptance.
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