Bitcoin at $1.6M by 2036? Bitwise’s Case Rests on Gold

Key Takeaways Bitwise targets $1.6 million per Bitcoin by 2036. Gold-market share supplies 82% of modeled value. Institutional allocations add about 9% of value. Bear case assumes Bitcoin’s share shrinks from today. The San Francisco asset manager released its 2027 Bitcoin Long-Term Capital Market Assumptions on October 28, projecting 34.3% annual growth over the next decade. Bitwise manages more than $14 billion in client assets and sponsors a spot Bitcoin ETF, so it has a commercial stake in the asset it is forecasting.