Bitwise CIO Suggests Bitcoin Market Cap Could Reach $30 Trillion

Bitcoin (BTC) could potentially reach a market capitalization of $30 trillion, following a growth trajectory similar to that of gold. Analysts suggest that if institutional funds continue to flow in, the Bitcoin market could experience significant growth. Matt Hogan, Chief Investment Officer (CIO) of Bitwise Asset Management, compared the market growth potential of gold and Bitcoin in a post on X (formerly Twitter) on the 9th. He stated that Bitcoin could follow the growth path that gold experienced, potentially rising to a market cap of $30 trillion. When gold ETFs were launched in 2004, gold's market cap was approximately $2 trillion to $2.5 trillion, which later expanded to $30 trillion. There is an analysis suggesting that Bitcoin could exhibit a similar trend. Hogan mentioned that at the time of the Bitcoin spot ETF launch in 2024, Bitcoin's market cap was about $2 trillion, emphasizing the potential for Bitcoin's market size to expand based on gold's growth case. He also presented a scenario where the price of Bitcoin could reach $1 million per coin. Hogan stressed that investors must endure the market's volatility for Bitcoin's long-term growth potential to be realized.

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