Bitwise Raises Its 10-Year Bitcoin Forecast to $1.6 Million by 2036

Bitwise Asset Management raised its 10-year Bitcoin (BTC) forecast to $1.6 million by 2036 from $1.3 million by 2035, revising its long-term view of the cryptocurrency’s value.

The new base case puts Bitcoin at $1,599,766, with projected annualized growth of 34.3% from a reference price of $83,557 on Sept. 30, 2026. TokenPost previously covered Bitwise’s 2036 Bitcoin scenario, which included the same base-case value.

Bitwise’s bear case values Bitcoin at $130,686, with a projected annualized return of 4.6%. The bull case is $3,667,911, with a projected return of 46.0%.

Matt Hougan, Bitwise chief investment officer, addressed two counterpoints to the more bullish view: gold’s lead in store-of-value flows so far and slower Bitcoin ETF inflows. Hougan’s response was that institutions continued adding Bitcoin exposure during the downturn.

Risks include technological disruption, including quantum computing and AI-driven advances in mathematics, as well as regulatory and governmental risks. Bitwise expects Bitcoin’s volatility to decline and its four-year cycle to weaken over time, while noting that significant drawdowns remain possible.