Bitwise researchers André Dragosch and Ayush Tripathi projected Bitcoin’s valuation could exceed $200,000 by the end of 2024, citing escalating U.S. fiscal instability as a primary catalyst.
The prediction highlighted concerns over the U.S. federal debt and persistent fiscal deficits, exacerbated by proposed tax reforms including the ‘Great Tax Act’. Supporting this outlook, the U.S. Congressional Budget Office forecasted net interest expenses potentially reaching $3 trillion by 2030, intensifying sovereign debt sustainability concerns.
Bitcoin’s intrinsic scarcity and established role as a hedge against fiscal uncertainty positioned it favorably amid macroeconomic volatility, according to the analysis. The digital asset’s limited supply and resilience were identified as key attributes driving its potential price appreciation.
Market participants were advised to monitor fiscal dynamics closely, as Bitcoin’s structural characteristics could propel its value beyond conventional expectations during periods of economic uncertainty.
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