Hunter Horsley, the Chief Executive Officer (CEO) of crypto index fund manager Bitwise, has remained very optimistic about the Bitcoin bullish outlookwith the cryptocurrency predicted to see a surge to $250,000 sooner than most think.
BTC’S Road to $250,000
In a recent X (formerly Twitter) post on Wednesday, Horsley made a bold prediction about Bitcoin, and expects the cryptocurrency to rise new all-time highs never seen before. The CEO has stated that BTC could reach $250,000, an increase of four times the current price above $62,000.
Furthermore, Horsley has expressed his belief that BTC gold could rival in the future. He expects the surging cryptocurrency “will erode gold’s Total Addressable Market (TAM) faster than people expect.”
Marking The formidable potential of Bitcoin regarding holding, on Wednesday, February 28, Spot Bitcoin ETFs dominated Gold ETFs are on the market, with over $578 million flowing into Spot Bitcoin ETFs, while gold ETFs saw outflows of $17 million. These substantial inflows underscore the rising demand and potential superiority of Spot Bitcoin ETFs gold ETFs.
The CEO of Bitwise also revealed this Discover Bitcoin ETFs were the moment of BTC’s IPO. Consequently, these investment assets have increased the accessibility of BTC to both institutional and retail investors, increasing exposure and increasing its market value tenfold.
Although Horsley did not provide a specific timeline for his $250,000 Bitcoin predictionthe CEO has maintained a bullish long-term outlook for the cryptocurrency. He has also emphasized the need to invest in BTC, to report that “waiting was expensive” and that yesterday’s prize should serve as a reminder to seize every opportunity to do so Buy Bitcoin.
Bitcoin shows no signs of slowing down
According to Horsley, Bitcoin shows no signs of stopping upward momentum shortly. The CEO of Bitwise did that revealed that the price of the cryptocurrency is likely to accelerate rather than slow down.
At the time of writing, BTC is trading at a price of $62,142, reflecting a substantial increase of 8.77% in just 24 hours. At some point yesterday was the cryptocurrency trading above $57,000. However, after achieve unprecedented profitsBitcoin has successfully crossed the coveted price barrier of $60,000 and is quickly approaching its overall all-time high of $68,789 in November 2021.
Horsley revealed that this rapid rise in Bitcoin’s price is largely attributed to the success of the Spot Bitcoin ETFs. He has highlighted the possibility that the entire US capital markets will invest in Spot Bitcoin ETFs for the first time, presenting a huge opportunity to drive Bitcoin adoption and increase the value of the cryptocurrency.
BTC price continues to rise | Source: BTCUSD on Tradingview.com
Featured image from Interia, chart from Tradingview.com
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