Bitcoin to $1.6 Million? Bitwise Raises 2036 Price Target Despite Brutal Market Downturn
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Bitwise raised its long-term Bitcoin price target to $1.6 million by 2036, even as the crypto market endures a brutal downturn. The asset manager's thesis rests on Bitcoin capturing a larger share of store-of-value flows, arguing the token remains undervalued relative to gold, which currently attracts the bulk of such investment. The call comes as spot Bitcoin ETF inflows have slowed, dampening near-term momentum for the token. Bitwise's projection implies roughly a 15x move from current levels near $105,000, underscoring the firm's conviction despite weak price action. Analysts will be watching ETF flow data and Bitcoin's market cap relative to gold's roughly $20 trillion valuation for signals on whether the store-of-value rotation thesis gains traction.
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Bitwise, Bitcoin (BTC), Gold (XAU)
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