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

A Bitwise exec sees only a 10% chance of a federal Bitcoin reserve being created in 2025

Jeff Park, head of alpha strategies at Bitwise Invest, has predicted that the price of Bitcoin might potentially hit $1 million if the US creates a Bitcoin reserve.

"That’s the only math in which Bitcoin can hit $1mm+ in 2025 when it happens," Park said in a recent tweet.

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

Earlier this year, Senator Cynthia Lummis of Lummis introduced a draft bill that would require the U.S. Treasury to acquire 1 billion Bitcoins over the course of five years.

The idea has attracted a lot of attention in recent months, with various pundits debating its viability.

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

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at [email protected].

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

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