Institutional Demand Drives the Market

Hougan sees the foundation for the next Bitcoin bull market in a massive imbalance between supply and demand. "The network produces only around 450 Bitcoin daily, while Bitcoin ETFs alone bought 10,000 coins yesterday," he explained in an interview with CNBC. This structural deficit could continue for years, with the logical consequence of rising prices.

More and more companies are relying on Bitcoin treasuries

According to Hougan, another driver is the trend towards Bitcoin treasuries – companies that incorporate Bitcoin into their balance sheets. "The number of these companies will double in the coming years," he predicts. Already, more than 180 publicly listed companies hold Bitcoin reserves, led by MicroStrategy with more than 639,000 coins.

The software corporation led by Michael Saylor has made Bitcoin a central part of its corporate strategy, creating a model that is being increasingly emulated.

Zehnmal besser als der Welt-Index – was Deutschlands Anleger gerade richtig machen

Eine exklusive Auswertung zeigt: Die Top-Favoriten deutscher Privatanleger haben den MSCI World in den vergangenen zwölf Monaten klar distanziert. Auffällig: breite ETF-Kerne – und gezielte Wetten auf Pharma, KI-Chips und Verteidigung.

Bitcoin ETFs on the Rise

Hougan also expects strong inflows into Bitcoin ETFs – especially in the fourth quarter of 2025. Many institutional investors now regard Bitcoin as a strategic asset that offers protection against geopolitical risks and currency depreciation.

No hype, but a paradigm shift

Hougan firmly rejects the comparison with the tulip bubble: Bitcoin is not a short-term hype, but a new asset class. Especially in times of economic uncertainty, tariffs, and geopolitical tensions, interest in an independent store of value grows.

For Hougan, it is certain: "Bitcoin will become a permanent component of institutional portfolios – and this is just the beginning.