Bitcoin has just completed its fourth halving, and Bitwise CIO Matt Hougan shares optimistic predictions for the future. Hougan expects significant growth in bitcoin’s stability and value, anticipating a price target of over $250,000 by April 2028. According to his analysis, this rise will be driven by four key factors: decreased volatility due to broader adoption and diversified investment through U.S. spot bitcoin ETFs, increased portfolio allocations with expectations of 5% or more in typical portfolios, and substantial central bank investments in bitcoin. Hougan notes that central banks, currently holding vast reserves of gold, are likely to pivot towards bitcoin, enhancing its status and utility in global finance.

The infusion of $12.5 billion into bitcoin ETFs since their launch marks them as the fastest-growing ETF category ever, indicating a robust appetite among institutional and retail investors. Hougan highlights the untapped potential as these funds are not yet fully integrated into major national wirehouses. He also anticipates that the increasing functionality of bitcoin over gold for payments and settlements will make it more attractive to governments in a shifting geopolitical landscape. With all these factors aligning, Hougan’s vision for bitcoin’s integration into mainstream finance seems not only plausible but probable, setting a promising trajectory as we approach the next halving.

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