Bitwise CIO Maps Potential Path for Bitcoin to Reach $1 Million Within 10 Years

Bitwise CIO Matt Hougan argued in a memo published Tuesday that Bitcoin could climb to $1 million within the next decade if the store-of-value market keeps expanding and BTC secures a larger share of that capital. He compared Bitcoin and gold, noting gold's value grew from about $2.5 trillion in 2004 to roughly $36 trillion today, and projected that a future $121 trillion store-of-value market would require Bitcoin to capture around 17% to justify the seven-figure price. Hougan added that monetary policy and macroeconomic conditions will be key in determining whether such an outcome is achievable, and suggested the projection might still be conservative if macro risks intensify.