PANews reported on March 15 that according to CoinDesk, Matt Hougan, chief investment officer of Bitwise Asset Management, said that if Bitcoin can capture a larger share of the global store of value market currently dominated by gold and government bonds, then Bitcoin may eventually reach $1 million each. However, the $1 million target is not so much an accurate prediction as a shorthand statement of Bitcoin's maturation to become a major global monetary asset, the outcome of which depends on long-term institutional adoption and the expansion of the store of value market. Some proponents argue that geopolitical tensions, a potential crisis for traditional "safe" assets, and Bitcoin's fixed supply could accelerate its rise, but most believe it will take a decade or more rather than an imminent event.