The shortage of Bitcoin supply increases confidence in the USD 200K target for 2025, according to Bitwise executive

Bitwise's Chief Investment Officer, Matthew Hougan, said a Bitcoin supply shock is coming, driven by increased institutional demand.

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Matt Hougan, Chief Investment Officer of Bitwise, predicts that Bitcoin

will reach USD 200,000 by the end of 2025 due to a supply shock from increased institutional demand.

In an interview with Cointelegraph at Consensus 2025 in Toronto, the executive said that Bitwise's Bitcoin price prediction model is based exclusively on supply and demand metrics. Hougan outlined the concrete figures driving the forecast:

"We know that miners will produce 165,000 BTC this year. Publicly traded companies have already purchased more than that. Exchange-traded funds have entered USD 6 billion. We believe that governments are going to buy. We see this kind of structural difference between demand and supply."

"I think that will eventually exhaust sellers at the USD 100,000 level where we have been stuck, and I believe the next stopping point above that is USD 200,000," said the executive. Bitwise is one of the issuers of exchange-traded funds (ETFs) for Bitcoin in the U.S. markets, with nearly USD 4 billion in assets under management through its Bitwise Bitcoin ETF (BITB) as of May 14.