Bitwise Expert Explains: Bitcoin Could Rise Up to $1 Million! - Koin Bulletin

Jeff Park, President of Bitwise Invest's alpha strategies, predicts that the price of Bitcoin could reach $1 million.

Park notes that this is only possible if the United States creates a Bitcoin reserve. Park said in a tweet, "The only mathematical scenario in which Bitcoin could surpass 1 million dollars in 2025."

US Bitcoin reserves

Park evaluates the probability of this scenario occurring as a low probability like 10 percent. Previously, Senator Cynthia Lummis had introduced a bill. This bill envisaged the US Treasury Department purchasing a total of 1 billion Bitcoin over a period of five years. However, this idea is still being debated among politicians and experts.

According to Polymarket data, the probability of creating a Bitcoin reserve in 2025 is evaluated as 31 percent.

Global reactions

In addition to the US, the idea of creating a Bitcoin reserve is attracting attention worldwide. However, countries like Japan are skeptical of this idea. The Japanese government questions the reliability of investing foreign exchange reserves in Bitcoin.

Galaxy Digital CEO Mike Novogratz, on the other hand, thinks it's unlikely that the US will create a Bitcoin reserve in the short term. However, if such a step is taken, he predicts that the price of Bitcoin could rise to 500,000 dollars. According to Novogratz, a move by the US in this direction could also lead other countries to Bitcoin.

BTC2.78%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)