$1M Bitcoin ‘Sounds Crazy,’ but Bitwise CIO Says the Math Points Higher

Bitcoin could reach $1 million if it captures roughly 17% of a projected $121 trillion global store-of-value market, according to Matt Hougan, chief investment officer at Bitwise Asset Management. In a recent memo, he explained how long-term market expansion could support significantly higher prices for the digital asset. Math Behind The Target Hougan said the idea initially appears unrealistic because a $1 million v…