Bitwise CEO Predicts Bitcoin Holders Will Stop Selling at $130K–$150K
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Hunter Horsley, CEO of Bitwise Asset Management, has made a bold statement about the future of Bitcoin. He believes that once Bitcoin rises to a value between $130,000 and $150,000, most people will stop selling.
According to him, this could lead to a drop in the amount of Bitcoin available for sale, possibly pushing its price even higher. At the time of his statement on June 10, Bitcoin was still trading at around $100,000, and some early investors were taking profits. However, Horsley believes this trend will not continue much longer as Bitcoin to increase n value.
Holders Will Prefer Borrowing Over Selling
Horsley explained that when Bitcoin reaches the $130K to $150K level, people will no longer want to sell. Instead, they will keep their Bitcoin and borrow against it when they need cash.
At this juncture, this new trend may be possible because more companies are now offering loans with Bitcoin as collateral. To this end, rather than losing their investment, holders can use their coins to get loans and still benefit from price increases in the future.
As it stands, this behavior could lead to a huge drop in selling pressure. However, since people will no longer be dumping their BTC into the market, the supply of available coins will shrink. And when demand rises but supply remains low, prices tend to rally quickly.
A New Role for Bitcoin
Additionally, Horsley’s prediction also hints at a bigger change in how people use BTC. The CEO suggests that BTC is slowly moving from being a speculative asset to becoming a financial tool.
To this end, more people may start treating Bitcoin like a strong asset they can use as security for loans, similar to how property is used in traditional finance.
If this happens, Bitcoin’s value could rise even more because fewer coins would be in circulation. In this kind of market, Horsley says there just won’t be “enough BTC to go around,” possibly triggering record-breaking price surges in the future.
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