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Bitwise says bitcoin fair value could reach $224,000 if adopted as Treasury hedge

Bitwise said bitcoin\'s theoretical fair value could rise to about $224,000 if it is widely adopted as a hedge against sovereign default risk. Citing a valuation model that reflects government bond default risk, the asset manager said the long-term investment case for bitcoin could strengthen as global debt burdens and bond market stress increase. It pointed to rising Japanese and U.S. yields, while noting high real rates and tight financial conditions are limiting demand.