Bitcoin Could Hit $1M by 2029, Says Bitwise
Bitwise predicts Bitcoin may surpass $1 million by 2029, driven by increasing institutional adoption.
- Bitwise sees major upside for Bitcoin in coming years
- Institutional interest is rising rapidly
- $1 million Bitcoin target set for 2029
Institutions May Be the Key to Bitcoin’s Future
Bitcoin’s path to $1 million just got a big endorsement. Bitwise, one of the largest crypto asset managers in the U.S., has predicted that growing Bitcoin institutional adoption could send the price of BTC soaring to seven figures by 2029. This bold prediction highlights a major shift in the way large financial players are approaching crypto.
For years, Bitcoin was seen as a speculative asset or a hedge against inflation. But now, major institutions—including banks, asset managers, and pension funds—are starting to view Bitcoin as a long-term store of value. This shift is already visible with firms like BlackRock and Fidelity offering Bitcoin-related investment products.
Why Institutions Are Turning to Bitcoin
Bitwise’s forecast rests on a clear trend: traditional finance is embracing crypto. The launch of spot Bitcoin ETFs in early 2024 was a major catalyst, unlocking access to billions in capital. These ETFs make it easier for institutions to invest in Bitcoin without needing to handle the asset directly.
As regulatory clarity improves and Bitcoin continues to mature, more institutional money is expected to flow in. This demand, coupled with Bitcoin’s fixed supply of 21 million coins, could drive significant price growth over the next five years.
Could $1 Million Bitcoin Become Reality?
While the idea of a $1 million Bitcoin might sound extreme, it aligns with past predictions from other industry experts. Cathie Wood’s ARK Invest has previously set similar targets. Bitwise’s forecast simply strengthens the narrative that institutional capital could be the game-changer for Bitcoin’s price.
Of course, crypto markets are volatile and nothing is guaranteed. But with increasing adoption and stronger infrastructure, the future looks increasingly bullish.
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