- Bitwise Invest CIO makes big Bitcoin 2050 prediction
- Bitcoin plunges 40% from its ATH
Matt Hougan, Chief Investment Officer (CIO) at the Bitwise Invest fund, has opposed the founder of Sevens Reporter over the jab the latter has taken at Bitcoin recently.
Tom Essaye, a former Merrill Lynch trader who founded Sevens Reporter, has sent a critique of the world’s largest cryptocurrency, calling it a “simply speculative asset.”
Hougan believes that Bitcoin has much better prospects by 2050 than Essaye says about BTC’s present.
HOT Stories
Morning Crypto Report: 12.25 Million XRP Leave OKX by February, Cowen Projects March Bitcoin Peak, USDT Liquidity Now Mirrors 2022 Bottom
Crypto Market Review: XRP’s Double Bottom Could Be Key, Bitcoin Is Literally on the Edge, Shiba Inu (SHIB) Price Is Trapped Now
Bitwise Invest CIO makes big Bitcoin 2050 prediction
Matt Hougan responded to a tweet, in which shared a screenshot of Essaye’s recent Bitcoin critique. Hougan called this take on Bitcoin “terrible.” Referring to Bitcoin as an emerging store of value, he said that it is not right to expect it to be as mature as gold in just over a decade.
The Bitwise Invest CIO believes that by approximately 2050, every central bank will own Bitcoin, and owning BTC for them will be as normal as holding gold. He insists that currently Bitcoin is going through a certain maturity stage that can by no means be avoided or jumped over. This maturing requires time, he says.
Meanwhile, Tom Essaye slammed Bitcoin, saying that it is not replacing gold, it is not digital gold and it “doesn’t give people the same utility that gold does.” He added that Bitcoin is not an inflation hedge or a chaos hedge either. There are a lot better hedges, he claimed, where investors do not have to worry about volatility.
Bitcoin plunges 40% from its ATH
The world’s biggest cryptocurrency has been crashing recently, gradually sinking below $70,000, and earlier today having dropped to the $64,200 level briefly. Overall, BTC is changing hands roughly 40% under its October all-time high of $126,000.
This deep price plunge is happening despite fast-growing Wall Street and institutional adoption, and the support from the U.S. government. Bloomberg analysts believe that Bitcoin is currently facing the problem of “purpose” as it lacks the fundamentals that traditional assets have. One of the big reasons for this is that the pro-crypto U.S. government, as well as the long-standing Bitcoin evangelist Jack Dorsey, began to focus their attention on stablecoins for payments, rather than on BTC. The majority of stablecoins run on Ethereum.
However, Bitcoin bulls still point at Bitcon’s hard cap of 21 million supply as the major fundamental.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
If Bitcoin falls below $60K, recovery could slip to 2027, data shows
Bitcoin (BTC) has given back much of its March momentum, dipping about 1.4% for the month and registering a roughly 24.6% drop for the first quarter of 2026. Market observers note that this retreat fits a longer-term drawdown pattern that could extend into the end of 2026, with many analysts
CryptoBreaking5m ago
Davinci Jeremie Behind '$1 BTC', Now Says Sell Your Bitcoin Crypto
The shift is significant precisely because of its source: Jeremie spent more than a decade as one of the asset class’s most recognizable long-term bulls, and his updated stance arrives as Bitcoin consolidates well off its October 2025 highs.
The Crypto Fear & Greed Index currently sits
Coinspeaker5m ago
Bitcoin Prepares to Close March in Red, Making Its Sixth Consecutive Close, Why Is This Bullish?
Bitcoin prepares to close March in red.
This could mark its sixth consecutive close, a pattern seen before in 2018-2019.
Previously this pattern was printed, the price of BTC pulled a pump over 300%.
The crypto community is waiting with dread as they see how Bitcoin prepares to close Mar
CryptoNewsLand39m ago
Solana and XRP Slide Continues — New $100 BTC Reward Model Keeps Rising
SOL entered 2026 above $140 and has spent the first quarter giving most of that back. The asset is currently consolidating between $85 and $90 inside a rising wedge pattern that technical analysts flag as pointing toward further downside — a formation that typically signals weakening recovery
CryptoPotato50m ago
Arkham: Satoshi Nakamoto holds approximately 1.096 million BTC, followed closely by major exchanges, ETF issuers, governments, and publicly traded companies.
As of the beginning of 2026, Satoshi Nakamoto is still the world’s largest Bitcoin holder, holding about 1.096 million BTC. Other major holders include exchanges, ETF issuers, and governments, and the holdings of BlackRock and the U.S. government are both significant.
GateNews57m ago
