CoinDesk Slams Bitwise's $1.3M Bitcoin Forecast as Overly Optimistic

CoinDesk has questioned Bitwise's forecast that Bitcoin could reach $1.3 million within the next decade, calling it overly optimistic.

The critique centers on the assumption that Bitcoin will capture a significant share of gold's market value or attract substantial inflows from institutional pools like pension funds.

CoinDesk argues that this assumption overlooks critical market dynamics and competitive pressures.

One key factor highlighted by CoinDesk is opportunity cost, with U.S. Treasury yields offering around 5% annually, providing a relatively low-risk alternative that provides steady returns.