Bitwise Chief Investment Officer Matt Hougan believes that Bitcoin can reach a target price of $1 million by capturing a larger share of the global store of value market. He estimates that the global store of value market will grow from its current size of nearly $38 trillion to approximately $121 trillion in ten years. He points out that Bitcoin currently holds less than 4% of this market share, so it would only need to capture approximately 17% of the expanded market to achieve the $1 million price target.

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