Bitwise sets $1M Bitcoin target for 2029
Base prediction for 2025 is $200K
Price could reach $500K if U.S. adopts BTC
Bitwise Sees $1M Bitcoin on the Horizon
Leading crypto asset manager Bitwise has released a bold projection: Bitcoin could hit $1 million by 2029. This long-term prediction is based on increasing demand from ETFs, institutions, and even governments, which are beginning to recognize Bitcoin’s role as a digital store of value.
According to Bitwise, their base case for 2025 places Bitcoin at $200,000, with a much more optimistic scenario of $500,000 if the United States or other major economies formally adopt Bitcoin into their national strategies or reserves.
ETFs and Institutional Demand Fuel Forecast
Since the approval of Bitcoin ETFs, mainstream access to crypto has expanded dramatically. Bitwise points out that institutional inflows into Bitcoin are growing, with ETFs acting as a gateway for large funds and traditional investors.
Additionally, the narrative of Bitcoin as “digital gold” continues to gain ground. If central banks or governments begin holding BTC as part of their treasury strategy, this could accelerate the price appreciation significantly.
BULLISH: Bitwise predicts Bitcoin could hit $1M by 2029 as ETF and government demand accelerates.
Base case for 2025: $200K, or $500K if U.S. adopts $BTC. pic.twitter.com/CxSFjcIhYj
— Cointelegraph (@Cointelegraph) May 2, 2025
What Would It Take to Reach $1M?
For Bitcoin to reach $1 million by 2029, Bitwise estimates that a relatively small shift in global asset allocation would be sufficient — for instance, if just a few percent of global institutional portfolios were to include Bitcoin.
In this scenario, rising scarcity from halving events, limited supply, and surging demand could create the perfect storm for a meteoric rise. It’s a bullish vision, but one rooted in macro trends and increasing adoption across sectors.
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