Bitwise’s Chief Investment Officer, Gary Sullivan, stated that the current early stage of bitcoin’s development will end when the cryptocurrency’s price reaches the $500,000 level.

He noted that this level would signal a move to a more mature stage of the market.Sullivan emphasized that bitcoin continues to evolve and adapt, and its value will increase as institutional interest and acceptance of the cryptocurrency as an asset increases.

He also noted that current market conditions and technological innovations are contributing to bitcoin’s growing popularity among investors.

According to Sullivan, reaching the $500,000 mark will be an important milestone for bitcoin, which will put it in a more stable position in the financial markets.