Bitcoin could hit $1.6 million by 2036, Bitwise forecasts

Bitwise has raised its long-term Bitcoin price forecast to $1.6 million by 2036, citing institutional demand, limited new supply, and growing demand for assets that can protect against currency debasement. Summary Bitwise projects 34.3% annualized Bitcoin returns over its model’s 10-year period. The valuation assumes Bitcoin captures 25% of a projected gold-and-Bitcoin store-of-value market. ViaBTC’s Jeff Ko describes recent trading as an accumulation period, while flagging complacent positioning. Bitwise Asset Management released its 2027 Bitcoin Long-Term Capital Market Assumptions on Oct. 28, setting out a decade-long investment case that rests on Bitcoin gaining ground in several markets, led by its use as a store of value. Bitcoin’s $1.6 million forecast rests on a growing store-of-value market In its valuation framework, Bitwise projects the combined gold-and-Bitcoin store-of-value market will reach $109.8 trillion by 2036, with Bitcoin taking 25%. The model assigns smaller contributions to institutional portfolios, emerging-market currencies, offshore wealth, national reserves, US corporate treasuries, and remittances. The report’s base case assumes 2.5% penetration of both ...