Bitwise CEO Discloses Factors Behind Bitcoin's Climb to $95K

Bitwise CEO, Hunter Horsley, has pointed out that the recent increase in Bitcoin's value to $95,000 is not due to retail investors, but rather the growing involvement of institutions, advisors, corporations, and even nations in the industry. Data from Bitcoin Treasuries shows that public companies own 3.35% of total Bitcoin supply, while nations hold 2.52%.

The US and China hold the largest amounts among countries. Horsley predicts Bitcoin could reach a $50 trillion valuation in the future, as it emerges as a dominant asset for storing value in the digital era. This view is echoed by Charles Edwards, founder of Capriole Investments, who suggests Bitcoin is currently trading at a nearly 40% discount to its fair value.