10M
...
Hunter Horsley, CEO of Bitwise Asset Management, expresses an optimistic outlook on Bitcoin’s future trajectory as the cryptocurrency surged to $64,000. Horsley highlights the significance of Bitcoin exchange-traded funds (ETFs), stating that they have opened the floodgates for U.S. capital markets to invest in Bitcoin, fueling substantial market growth. He anticipates Bitcoin’s price to potentially reach $250,000 sooner than expected, citing increased accessibility to the cryptocurrency through ETFs. Bitwise, in its 2024 predictions, forecasts Bitcoin to trade above $80,000 and to set a new all-time high this year. Additionally, they project spot Bitcoin ETFs to capture 1% of the $7.2 trillion U.S. ETF market within five years. Bitwise Bitcoin Fund (BITB) was among the first spot Bitcoin ETFs approved by the U.S. Securities and Exchange Commission (SEC) on Jan. 10. The bullish sentiment towards Bitcoin is echoed by industry veterans like Peter Brandt, Pantera Capital, Fundstrat’s Tom Lee, venture capitalist Tim Draper, and Cathie Wood’s Ark Invest, all foreseeing significant price appreciation in the cryptocurrency.
