Bitwise Asset Management holds a bullish outlook on Bitcoin (CRYPTO:BTC), envisioning it in a long-term "raging bull market."

The firm's chief executive is particularly optimistic about the forthcoming Bitcoin halving event, believing it will be the most significant one witnessed to date.

The chief investment officer further elaborated on this optimism by stating that if global wealth managers were to allocate merely 1% of their portfolios to Bitcoin, it could channel approximately $1 trillion into the market.

This perspective underscores the firm's high expectations for Bitcoin's future growth and market impact, highlighting the potential for substantial financial inflow and increased valuation in the wake of the halving event.