Bitcoin Price Might Hit $1 Million Next Year If This Happens, According to Bitwise Exec

Jeff Park, head of alpha strategies at Bitwise Invest, has predicted that the price of Bitcoin might potentially hit $1 million if the US creates a Bitcoin reserve.

"That’s the only math in which Bitcoin can hit $1mm+ in 2025 when it happens," Park said in a recent tweet.

However, he sees only a relatively small 10% of a federal Bitcoin reserve happening next year.

Earlier this year, Senator Cynthia Lummis of Lummis introduced a draft bill that would require the U.S. Treasury to acquire 1 billion Bitcoins over the course of five years.

The idea has attracted a lot of attention in recent months, with various pundits debating its viability.

Meanwhile, Polymarket buyers see a 31% chance of a Bitcoin reserve happening in 2025.