Matt Hougan, chief investment officer at Bitwise, said bitcoin's $500,000 price was a sign of its true "maturity" and was still in its "early stages". He pointed out that with the recent positive sentiment brought about by the election of Trump, the 100,000 dollar may be about to break through. Hougan believes that the demand to treat bitcoin as a gold-like store of value will continue to grow, especially in the context of growing government debt. He predicts that for bitcoin to reach $500,000, it needs to capture half of the current $20 trillion store of value market, parity with gold, and central banks' bitcoin holdings remain a developing gap. Hougan further mentioned that although central banks currently hold about 20% of the world's gold reserves, they hold less than 2% of bitcoin. He cited the proposal of Senator Cynthia Lummis, saying that if the US government plans to build bitcoin reserves, the 500,000 dollar target is likely to be met.