Bitwise CEO Hunter Horsley adds new fuel to the conversation with a headline grabbing projection: Bitcoin (BTC)'s $50 trillion valuation (BTC) is when major cryptocurrencies step into the role of digital alternatives to the US dollar.
The essence of Horsley's message is that he combined the roughly $50 trillion market, not just digital gold, but also a comparison that limits the market potential to around $23 trillion, as well as a candidate for global instruments such as the US Treasury Department and the dollar itself.
This is the scale that Bitcoin could play for. If the world continues to move towards digital value storage, the fund's mind is thinking.
It's not the first time Horsley has painted a bullish picture for the future of Bitcoin, but it fits well with Bitwise's positioning. Under his leadership, the company's flagship Bitcoin ETF (BITB) holds over 39,000 BTC, currently valued at around $3.67 billion.
Bitcoin is a non-political digital currency asset.
The correct comparison may not be just gold (~$23T) –
But the Ministry of Finance and USD (~$50T).
When people want to save value digitally, the latter is often the path.
– Hunter Horsley (@hhorsley) April 26, 2025
Confidence appears to be on the balance sheet, not just rhetorical. What's interesting is how this forecast syncs with recent market behavior. Bitcoin's price action is increasingly linked to the global M2 liquidity movement.
Investors who are hoping for a classic Bitcoin boom cycle based on halving and hype have gotten more complicated instead. Cryptocurrencies behave like macroeconomic assets and ride a global money supply shift.
If cryptocurrencies are beginning to move in conjunction with global liquidity trends, it doesn't just tell the story of crypto enthusiasm. It suggests a gradual absorption of Bitcoin into the mainstream financial system.
Whether or not a $50 trillion scenario will come true, one thing is clear. BTC has not competed with Gold or chased the returns of tech stocks. It places itself within the heart of global finance. The real question: How many investors are ready to bet on it?
