Bitcoin Could Capture Quarter of Gold Market Value by 2035, Predicts Bitwise CIO

Bitwise Chief Investment Officer Matt Hougan says Bitcoin could capture 25% of the gold market by 2035, highlighting its long-term store-of-value potential.

Hougan based his assessment on treating Bitcoin as part of a broader store-of-value market rather than valuing it solely against its current market capitalization. In Bitwise's long-term capital market assumptions, the store-of-value markets, including gold and Bitcoin, are projected to grow from $29.4 trillion to $91.5 trillion by 2035.

Under Bitwise's base-case scenario, which assigns a 25% share of that market to Bitcoin, the firm projects a Bitcoin price of $1,306,740 in 2035. This would require substantial growth against gold while the overall store-of-value markets continue expanding.

Hougan emphasized institutional adoption, regulated investment access, and Bitcoin's role alongside traditional assets as important components of its long-term valuation framework.