$30 Trillion Bitcoin: Ultra Bullish Vision Unveiled by Bitwise CEO

CEO of Bitwise Hunter Horsley has come up with a quite bold vision for Bitcoin, saying that there is a $30 trillion opportunity right now in the U.S. Treasuries that is just sitting there.

It is all about recent developments in global markets. During the latest round of geopolitical tension in the Middle East, U.S. Treasury yields did not move much at all, which is unusual for a situation where investors would normally be risk-averse

Meanwhile, gold surged, with futures on precious metal rising over 1.2% in a single session to reach $3,445.50. It looks like investors are slowly starting to move away from government bonds as their go-to safe bet.

In this context, Bitcoin is starting to emerge as an alternative reserve asset, according to Horsley, as, while crypto investors often think of gold as a competitor, the more important capital base is actually treasuries, which are worth over $30 trillion

To some extent, even a small reallocation from bonds to Bitcoin could make a big difference to market dynamics.

Bitwise Bitcoin holdings exceed 38,000 BTC

For Horsley and Bitwise, their money is where their mouth is, with current holdings exceeding 38,000 BTC, worth more than $4 billion. And more to the point, the firm is expecting further fund flows during the third quarter, in particular from treasury-oriented institutions that have said they are interested but have not made their purchases yet

Horsley's vision perfectly aligns with what market experts are also keeping an eye on in the changing world of ETF access, as over $31 trillion in U.S. wealth platforms are still unable to invest in spot Bitcoin products because of regulatory or policy restrictions.

For Horsley and Bitwise, it is clear that the goal is not just gold - it is the much bigger pool of money that is still sitting in bonds.