Bitcoin Could Reach $1.3M by 2034, Bitwise CIO Predicts

Bitwise CIO Matt Hougan predicts that Bitcoin could reach $1.3 million by 2034, making it a significant player in the $80 trillion market for value storage.

The prediction is based on the assumption that Bitcoin will capture one-third of this market.

Hougan's view comes as institutional interest in BTC has increased, with over $50 billion in net inflows into spot Bitcoin ETFs since January 2024.

However, risks to this outlook include high volatility, uncertainty from the SEC, and competition from tokenized gold.