Bitcoin Price Might Hit $1 Million Next Year If This Happens, According to Bitwise Exec

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As an analyst with over two decades of experience in the financial markets, I have seen my fair share of audacious predictions and bold claims. However, Jeff Park’s prediction of Bitcoin hitting $1 million due to a potential US Bitcoin reserve is one that certainly piques my interest.

According to Jeff Park, who is in charge of alpha strategies at Bitwise Invest, there’s a possibility that the value of Bitcoin could reach a staggering $1 million if the United States decides to establish a Bitcoin reserve.

As a crypto investor, I’ve been pondering over this thought: If certain conditions align, Bitcoin could potentially surge to reach $1 million or more by the year 2025 – a notion I recently expressed on Twitter.

However, he sees only a relatively small 10% of a federal Bitcoin reserve happening next year. 

This year, Senator Cynthia Lummis put forward a proposed bill suggesting that the U.S. Treasury should gradually purchase 1 billion Bitcoins within a span of 5 years.

In the past few months, there’s been a significant amount of discussion surrounding this concept, as experts weigh in on its potential success.

Meanwhile, Polymarket buyers see a 31% chance of a Bitcoin reserve happening in 2025. 

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2024-12-26 21:17