Bitcoin doesn’t require a U.S. dollar crash to become a six-figure asset class, Bitwise CIO Matt Hougan opined on X.

Bitcoin (BTC) has often been hailed as a hedge against the dollar’s declining purchasing power and as a potential beneficiary of a massive fiat implosion.

Some proponents have suggested that Bitcoin needs a dollar collapse to reach $200,000 per BTC and beyond. However, Hougan argued that this assumption is incorrect for two main reasons: growing demand for store-of-value assets and persistent government spending.

According to the Bitwise executive, these factors reinforce investor conviction when they invest in Bitcoin. Hougan further argued that store-of-value markets have gained momentum due to “governments abusing their currencies.”

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