Bitcoin To $200,000 In 2025 Is Still In Play, Bitwise's Matt Hougan Says

Bitwise Chief Investment Officer Matt Hougan points to growing institutional concern over fiat currency debasement and robust inflows into Bitcoin ETFs as key drivers behind Bitcoin's surge to new all-time highs.

What Happened: In a CoinDesk interview on Tuesday, Hougan said he expects ETF inflows could reach $10–$20 billion in Q4 alone.

Hougan also reaffirmed his year-end target of $200,000 for Bitcoin BTC/USD, contingent on continued ETF activity and adoption by corporate or government entities.

While Bitcoin remains a primary market driver, he noted that other assets, such as Ethereum ETH/USD, Solana SOL/USD, and XRP XRP/USD are gaining attention as the market narrative increasingly centers on stablecoin issuance and tokenization.

Solana's High Institutional Adoption

Hougan said that while Ethereum benefits from established market share and decentralization, Solana is gaining Wall Street's attention due to its speed and infrastructure tailored for institutional use.

He noted that even modest institutional interest in Solana could drive significant price appreciation.

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The potential launch of Solana ETFs is expected to improve investor access and awareness, while the network's relatively small market capitalization compared to Bitcoin presents an opportunity for rapid gains.

Although early meme coin activity on Solana initially drew skepticism, Hougan argued it ultimately showcased the network's technical capabilities, signaling strong potential for institutional adoption.

Also Read: Bitcoin Could Reach $150,000 If Q4 Seasonality Delivers, Trader Says

Why It Matters: Hougan highlighted Bitwise's ongoing efforts to uplist its 10-crypto index fund into an ETF, noting that government shutdowns have slowed progress with the SEC.

While he remains optimistic about future approvals, he emphasized that regulatory uncertainty continues to constrain market growth and innovation.

Overall, Hougan painted a bullish outlook for crypto, particularly in stablecoins, tokenization, and DeFi, while stressing the importance of diversification and monitoring regulatory developments.

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