Bitwise CIO Matt Hougan Says Bitcoin May Need a New Price Target, Here’s Why
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Matt Hougan (Bitwise CIO) says the Iran conflict could push Bitcoin to act as both a store-of-value and a currency, and that long-term price targets may need to be revised higher; he cites 2022 SWIFT 'weaponization' driving demand for a neutral crypto alternative. - Market moves since Feb 28 show Bitcoin +12% while the S&P 500 is −1% and gold is −10%, signaling shifting safe‑haven demand and potential increased crypto adoption across CEX, DeFi and institutional allocations. - Implication: higher institutional interest and potential upward price pressure for Bitcoin, relevant for token launches, fundraising and portfolio positioning in the crypto ecosystem.
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- Hougan says Iran conflict may push Bitcoin higher if it becomes a store of value and currency.
- Bitcoin is up 12% since Iran conflict began, while S&P 500 fell 1% and gold dropped 10%.
- Hougan says weaponizing SWIFT in 2022 created demand for a neutral apolitical alternative.
Matt Hougan, Chief Investment Officer at Bitwise Asset Management, says the Iran conflict has done something unexpected: it has made him rethink whether Bitcoin’s long-term price targets are too conservative.
In an article published this week, Hougan said, “If Bitcoin starts to take on a dual role as both a store of value like gold and an actual currency like the dollar, we may need to revise our targets higher.”
Why the Iran Conflict Changed Everything
He said that the numbers tell a different story because, since the US and Israeli airstrikes began on February 28:
- Bitcoin is up 12% …
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