Hunter Horsley, CEO of Bitwise, maintains an upbeat stance on Bitcoin's future, projecting an ascent to $250,000, a quadruple increase from its present valuation.
Horsley, in a recent update on X (formerly Twitter), posited that Bitcoin is poised to surge to unprecedented heights. His forecast positions BTC to potentially outpace gold as it begins to claim a greater share of gold's total addressable market (TAM) more rapidly than anticipated.
On February 28, indicative of Bitcoin's burgeoning appeal, Spot Bitcoin ETFs outperformed Gold ETFs, with inflows of $578 million compared to the latter's $17 million outflow. This shift marks a potential tipping point, hinting at Bitcoin's ascendency in investment preference over traditional gold ETFs.
Horsley likens the influx into Spot Bitcoin ETFs to Bitcoin's "IPO moment," signaling increased accessibility for a broader range of investors. This move could catalyze Bitcoin's market valuation, potentially increasing it tenfold.
A Timeless Bullish Sentiment
While Horsley refrains from setting a definitive timeline for his quarter-million-dollar BTC prediction, he consistently champions a long-term bullish view. Emphasizing the cost of hesitation, he urges seizing the opportunity to invest in Bitcoin, referencing past prices as a nudge for timely action.
Bitcoin's Unabated Momentum
As per Horsley's analysis, Bitcoin is nowhere near slowing down its growth trajectory. Currently trading at $62,142, Bitcoin registered an 8.77% upswing within a day. Surpassing $60,000, it approaches its November 2021 peak of $68,789.
This remarkable price elevation, Horsley suggests, is largely fueled by the success of Spot Bitcoin ETFs, coupled with the prospect of the entire U.S. capital market engaging with these instruments. Such participation could significantly advance Bitcoin's adoption and enhance its value.
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