The CIO of Bitwise, Matt Hougan-an earnest man who looks like he once tried to trade baseball cards for wheat futures-leans back and declares that Bitcoin, bless its digital hide, still crawls in the cradle. Its full-cry price, he figures, lies somewhere north of seven brave figures.
A million-dollar btc? Sure, why not; the doorway to fairyland is always opening somewhere.
On a podcast titled When Shift Happens-as if change knocks politely-he imagines Bitcoin’s market cap swelling up big enough to arm-wrestle gold into second place.
“And I think once we hit the market cap of gold-yes, the yellow metal folks wear, bite, and occasionally bury in backyards-then we can jawbone about 5x, 3x, 2x. But until that day, men still tip their hats to gold, and there’s a straight 10x waiting to hatch.”
Here Hougan’s brow furrows the way a farmer’s does when the sky won’t rain. He produces a short list of humiliations suffered by all things physical: newspapers folded, DVDs boxed, billboards painted into irrelevance. He can’t conjure one earthly product whose digital twin did not devour it whole.
“Physical newspapers?” he chuffs. “Bigger than digital?”
“DVD towers stacked to heaven? Squashed by a cloud.”
“Gold stranded in vaults, counting ceiling tiles? Maybe next.”
So, he concludes, until Bitcoin’s heft equals gold’s, you’re not late-you’re still tying your shoes at the starting line 🚂. “You’ve got a clean 10x of breathing room before anyone can rightfully call you a bandwagon tourist,” he laughs, as though numbers were fruit set to ripen overnight.
In the final act of his sermon, Hougan swears that an army of pension funds, endowments, and blue-suited guardians will march over the hill carrying more than $1 trillion in wheelbarrows marked “portfolio rebalancing.” The crypto bazaar, newly minted cousin to global capital markets, has set the table; the institutions just need to find the chairs, loosen their ties and gnaw on the turkey leg called btc.
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2025-08-16 23:48