Bitwise CIO Matt Hougan: Bitcoin Could Reach $1.3 Million by 2035
Bitwise Chief Investment Officer Matt Hougan stated in an interview with CoinDesk that Bitcoin's price could reach $1.3 million by 2035, primarily driven by large-scale inflows of institutional funds.
He pointed out that global institutions manage $100-200 trillion in assets, and even a 1% allocation to Bitcoin could bring in $1-2 trillion in funds. Retail investors have pushed the crypto market from zero to about $2 trillion in market value, and institutional capital will dominate growth in the next decade.
The expectation of institutional allocation reinforces the narrative of long-term value storage, benefiting Bitcoin and related ETFs, while traditional safe-haven assets face relative pressure.
Source: Public Information
ABAB AI Insight
As Bitwise CIO, Matt Hougan has long predicted Bitcoin prices based on the value storage market model, previously referencing the expansion path of gold's market value (from about $2 trillion in 2004 to the current approximately $30 trillion), assuming Bitcoin captures 25% of that share to reach the target.
On the capital path, institutions like Bitwise promote allocation through ETFs and consulting, motivated to shift Bitcoin from retail-driven to long-term capital pools such as pensions and sovereign funds, moving resources from short-term trading to strategic asset allocation.
Similar cases can be seen in the tenfold growth of gold ETFs after their launch and the shift of stock indices from retail to institutional dominance; Bitcoin is currently transitioning from a fringe asset to a mainstream portfolio component.
This essentially involves capital concentration: institutional funds far exceed retail, and the mechanism is that even a small percentage allocation can reshape market value, pushing prices closer to value storage equilibrium.
ABAB News · Law of Cognition
1% institutional allocation is enough to reshape asset pricing.
The expansion of the value storage market determines the long-term ceiling.
Retail initiates the market, institutions determine the outcome.