Bitcointo $1 million per coin? Some “reasonably conservative assumptions” can get it there, Bitwise Chief Investment Officer Matt Hougan said in new market commentaryshared Tuesday, despite a long road ahead to that potential milestone.

“When I joined crypto full-time in 2018, I used to hear people say that and laugh. At the time, Bitcoin was around $4,000, and $1 million sounded absurd—even to me,” Hougan wrote.

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