Matt Hougan sets condition for Bitcoin at $1 million., 2026/04/06 17:46:45

The Chief Investment Officer of the cryptocurrency asset management firm Bitwise, Matt Hougan, stated that Bitcoin could reach $1 million if it captures a significant share of the global store-of-value market. Currently, this market is shared by gold, government bonds, and real estate.

According to Hougan’s estimates, the store-of-value market, where investors allocate funds to shield against inflation and economic disruptions, is valued at $40 trillion. Gold dominates this market with a volume of $38 trillion. Bitcoin’s share is currently around 4-5% (approximately $1.4 trillion) at a price of $70,000.

The Bitwise executive noted that in 2004, when gold exchange-traded funds (ETFs) were introduced, the market capitalization was about $2.5 trillion. Since then, it has grown at an average rate of 12.5% per year. If this trend continues until 2035, the total market volume for such assets is expected to increase significantly. In this scenario, Hougan believes that Bitcoin would only need to capture 15% of the market to reach $1 million. He considers this a rather conservative estimate, as a 30% share could push the market cap of the leading cryptocurrency close to $2 million.

Hougan’s forecast is based on a scenario where Bitcoin could provide its investors with nearly 20-fold returns over the next decade. The analyst urged against expecting rapid increases in Bitcoin’s price over short periods. The Bitwise investment director acknowledged that, in the short term, other decentralized finance (DeFi) projects might offer higher returns. However, he emphasizes that Bitcoin’s primary advantage lies in its long-term growth potential.

Previously, Hougan mentioned that the winners in the upcoming altcoin season will be those cryptocurrencies that manage to find real-world applications. The investor believes that cryptocurrency buyers will increasingly focus on the fundamental characteristics of projects.