In a recent Cointelegraph interview, Matt Hougan, chief investment officer of Bitwise, advanced a bold forecast for Bitcoin’s price. His projection of $1.3 million per coin by 2035 has sparked widespread debate across the crypto and finance sectors.
Hougan’s thesis rests on institutional research, deep market modeling, and a belief that Bitcoin is evolving from a fringe asset to a foundational pillar of global portfolios.
With policy shifts and technological innovation in play, his optimism is firmly rooted in market data and observable trends.
Why Does Hougan Believe Bitcoin Can Hit $1.3 Million?
Hougan sees Bitcoin as entering mainstream financial territory, noting its growing acceptance among major investors and funds.
He argues that Bitcoin’s inherent scarcity, fixed supply, and digital nature build a compelling case for its future value.
The projection factors in global economic trends, including rising government debt and inflation worries, which motivate investors to seek alternatives.
A key element of Hougan’s thesis is Bitcoin’s competition with gold. He believes Bitcoin can capture up to a quarter of the global store-of-value market, contending that as digital assets gain traction, their share of traditional wealth preservation vehicles will increase substantially.
Did you know?
Bitcoin’s total supply will never exceed 21 million coins, making its scarcity unique among digital assets.
How Does Institutional Adoption Change Bitcoin’s Future?
Institutional adoption is transforming Bitcoin’s status, shifting it from a speculative investment to a recognized portfolio asset.
Major institutions, including pension funds and asset managers, have started to allocate a portion of their portfolios to Bitcoin.
Hougan points out this trend accelerates acceptance and portfolio integration, making Bitcoin increasingly mainstream.
The arrival of exchange-traded funds has lowered the barrier to entry for institutional investors.
With regulated investment vehicles now available, more entities are able to buy and hold Bitcoin, fueling steady demand beyond retail speculation.
What Role Will Exchange-Traded Funds Play in Bitcoin’s Growth?
Bitcoin ETFs, introduced in major markets, offer investors exposure through regulated platforms. Hougan views ETFs as critical to unlocking widespread adoption, providing easy and secure channels for owning Bitcoin without technical hurdles.
He expects ETF-driven inflows to support lasting price gains, given the scale and reach of institutional investors.
This institutional accessibility also attracts international attention. ETFs make Bitcoin available to pension funds, sovereign wealth funds, and other large holders, diversifying the investor base and potentially stabilizing price volatility over time.
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Could Bitcoin Really Overtake Gold as a Store of Value?
Hougan’s bullish stance centers on the idea that Bitcoin can rival, or even surpass, gold’s market share in the coming decade. He believes that digital gold is attractive for its portability, transparency, and ease of transfer.
As attitudes shift towards digital alternatives, the competition intensifies, potentially redefining what it means to own a store-of-value asset.
He acknowledges skepticism but points to significant generational shifts in investing and technological trends that favor assets like Bitcoin over physical gold.
For Hougan, the advantages of programmability, divisibility, and borderless transfer give Bitcoin an edge in future wealth preservation.
What Risks Could Derail the $1.3 Million Prediction?
Hougan is candid about the risks facing Bitcoin’s trajectory, including regulatory uncertainty, geopolitical shocks, and market cycles.
He notes political instability and potential crackdowns but has observed a “hostile to favorable” regulatory climate shift in recent years, especially in the US and EU.
Market volatility remains a concern, as Bitcoin’s price can swing rapidly in response to global events, sentiment, or technological developments.
Hougan argues, however, that long-term fundamentals will trump short-term volatility for investors focused on 2035 outcomes.
Looking ahead, Hougan’s forecast offers a provocative roadmap for Bitcoin’s future, placing it firmly in the conversation as a cornerstone asset for the next generation.
Institutional demand, regulatory clarity, and global shifts in portfolio strategy could make the once-unthinkable milestone of $1.3 million a reality for the world’s largest cryptocurrency.
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