Bitwise Executive Issues Massive Bitcoin Prediction: $1.3 Million by 2035
Bitwise Chief Investment Officer Matt Hougan predicts a $1.3 million price target for Bitcoin by 2035, driven by the influx of institutional capital into Bitcoin.
Matt Hougan, a veteran figure in the cryptocurrency world, stated that Bitcoin will attract trillions of dollars in institutional investment over the next decade from a wide range of sources, from financial advisors to central banks. According to Hougan, this process represents the beginning of a long-term transformation that will turn Bitcoin into a mainstream financial asset. Emphasizing that institutional adoption will follow a gradual path, the expert noted that financial advisors and family offices would make large-scale allocations in the initial stage.
Signs of this shift are already visible in 13F filings submitted for spot Bitcoin ETFs and in moves by giant banks like Morgan Stanley and Wells Fargo to make Bitcoin more accessible to their clients. Over time, massive capital pools such as endowments, pension funds, and even central banks are expected to join this flow. Even a shift of just 1% of the $100 to $200 trillion in assets managed by global institutions into Bitcoin is considered sufficient to support these targets.
The Math Behind the $1.3 Million Target for Bitcoin
Hougan’s optimistic forecast is based on the assumption that Bitcoin will capture a 25% share of the expanding store of value market. Recalling that the gold market has grown from $2 trillion to $30 trillion since the ETF launch in 2004, the expert calculates that Bitcoin’s price could rise to the $1.3 million level with similar growth momentum. Stating that crypto reached $2 trillion with retail, Hougan emphasizes that the path to a $20 trillion market cap is only possible with institutional capital.
On the other hand, Hougan argues that while MicroStrategy remains the largest institutional holder with 842,138 units (BTC), it will no longer be the primary driver of market demand. Noting that the company’s advantages have weakened as spot ETFs provide a direct alternative, the expert states that for long-term investors, the real question is not finding the bottom price, but whether the peak has arrived.