Bitcoin to $1.6 Million? Bitwise Raises 2036 Price Target Despite Brutal Market Downturn

Bitwise sees Bitcoin reaching $1.6 million by 2036, even as gold attracts most store-of-value investment and ETF inflows slow. Bitwise has raised its 10-year Bitcoin price target from $1.3 million to $1.6 million by 2036, despite Bitcoin having a difficult year, marred by falling prices, weaker sentiment, and an uncertain macroeconomic environment. In Bitwise’s updated Long-Term Capital Market Assumptions report, CIO Matt Hougan and Head of Research Ryan Rasmussen used the same model as last year but incorporated the latest market and economic data. Interestingly, rather than lowering their expectations after Bitcoin fell more than 50% between October 2025 and June 2026, reaching a low below $59,000, they ended up becoming more bullish. The revised target also increases Bitcoin’s projected compound annual growth rate from 28.3% to 34.3%. Long-Term Outlook Hougan said he initially worried that the latest data would force them to reduce their forecast to $1 million or lower, particularly with sentiment taking a hit, inflation remaining stubborn, interest rates rising, war in the Middle East, and concerns about an AI bubble. However, the numbers told a different story. The higher pric...