Bitcoin Could Hit $1 Million? Bitwise CIO Explains Key Prerequisites

Bitwise Asset Management's Chief Investment Officer, Matt Hougan, suggested in a recent report that Bitcoin has the potential to reach a valuation of $1 million per coin within the next decade, provided it captures a significant share of the global store of value asset market.

The report indicates that if the total size of global store of value assets expands to approximately $120 trillion over the next ten years, and Bitcoin secures about 17% of that market share, its price will naturally approach this target level. This calculation is not based on mere speculation but on Bitcoin's rapid penetration among institutional investors in recent years. An increasing number of financial institutions, sovereign wealth funds, and corporations are incorporating Bitcoin into their asset allocation, gradually viewing it as a non-sovereign store of value tool as important as gold.

Hougan emphasized that if the current trend continues, Bitcoin will steadily erode the share of traditional safe-haven assets. As global demand for decentralized, non-government-backed assets rises, Bitcoin's scarcity and inflation-resistant properties are becoming its core competitive advantages. He pointed out that if the current growth trajectory remains unchanged, Bitcoin's long-term price potential will far exceed current market levels. Although the report does not provide a specific timeline, analysts believe that with the combined impetus of technological maturity, increasing regulatory clarity, and continued institutional entry, achieving this goal within a ten-year period is possible.