Bitwise CIO: Bitcoin prices are likely to reach $1.3 million in 2035 and institutions will lead growth

On 9 August, Bitwise CIO Matt Hougan, in an interview with CoinDesk, stated that by 2035 the price of bitcoin could reach $1.3 million, the main driver of which was a massive inflow of institutional funds. Hougan points out that global institutions manage $10 to 200 trillion of assets, even with only 1 per cent of bitcoin, that can generate $1 - 2 trillion in funding to support their price targets. Retail investors have pushed the encryption market from zero to $2 trillion in market value, while institutional capital will dominate growth over the next 10 years, driving the overall market value to higher levels.”