CTO Bitwise – Matt Hougan says Bitcoin could surpass $200,000 by the end of this year. According to him, there are currently many positive factors supporting the price of Bitcoin, including:

- The US government holding Bitcoin for the first time in a strategic reserve fund

- Improvements in legal regulations

- Major organizations and businesses entering the market

However, the current price of Bitcoin does not fully reflect these positive factors due to the economic instability, which has caused not only Bitcoin but also other risky assets like stocks to decrease in value.

He believes that when the economic situation stabilizes again, these positive factors will "catch up" with the price of Bitcoin, pushing it to new highs, potentially exceeding $200,000 this year.

Three factors to monitor to predict real demand increases:

1. Cash flow into Bitcoin ETFs

2. Large companies like MicroStrategy and MetaPlanet continuing to buy

3. The government continuing to accumulate Bitcoin

He noted that last year ETFs purchased about 500,000 BTC, while the total supply of Bitcoin is only 165,000 BTC per year.

Businesses have also bought about 250,000 BTC, and he predicts the government may buy several hundred thousand more BTC this year. In total, demand could exceed 1 million BTC, which can only come from long-term holders, and they will only sell when the price rises higher.

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