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Finance

Bitcoin to $1.3M by 2035? Bitwise CIO Reveals the 3 Forces Fueling the Crypto Surge

Bitwise CIO predicts Bitcoin at $1.3M by 2035, due to institutional acceptance & ETFs.

byAndres Castro

September 23, 2025, 7:42 PM

Executive Summary

Bitwise Chief Investment Officer Matt Hougan projects Bitcoin could surge to $1.3 million by 2035, driven by Wall Street’s increasing acceptance.

Hougan’s optimistic forecast is underpinned by escalating global government debt, a supportive regulatory environment, and the introduction of Bitcoin exchange-traded funds (ETFs).

The thesis positions Bitcoin as “digital gold,” aiming to capture a quarter of the global store-of-value market within the next decade.

The Story So Far

Optimistic projections for Bitcoin’s future, including a potential surge to $1.3 million by 2035, are primarily driven by Wall Street’s increasing acceptance and institutional integration of cryptocurrencies, a supportive shift in the regulatory environment, and the advent of Bitcoin exchange-traded funds (ETFs) which have simplified institutional investment, all against a backdrop of escalating global government debt.

Why This Matters

Bitwise’s projection of Bitcoin surging to $1.3 million by 2035, driven by increasing Wall Street acceptance, a supportive regulatory environment, and the advent of Bitcoin ETFs, signifies a profound shift in the cryptocurrency’s standing. This outlook suggests Bitcoin is on a trajectory to become a legitimate, fundamental component of global investment portfolios, potentially rivaling gold as a primary store of value and deeply integrating into traditional financial structures.

Who Thinks What?

Matt Hougan, Bitwise Chief Investment Officer, projects Bitcoin could surge to $1.3 million by 2035, driven by increasing Wall Street acceptance, escalating government debt, a supportive regulatory environment, and the introduction of Bitcoin ETFs, positioning it to capture a quarter of the global store-of-value market as “digital gold.”

Hougan also holds a bullish perspective on Solana, believing it possesses the elements for a substantial rally by year-end and could potentially become the “new Wall Street” by playing a significant role in future financial infrastructure.

Bitwise Chief Investment Officer Matt Hougan projects Bitcoin could surge to $1.3 million by 2035, citing Wall Street’s increasing acceptance of cryptocurrencies. In an interview with Cointelegraph, Hougan detailed his long-term forecast, which is rooted in an institutional report modeling Bitcoin’s role as a store of value and its competition with gold.

Factors Driving Bitcoin’s Trajectory

Hougan’s optimistic outlook is underpinned by what he identifies as three converging factors reshaping Bitcoin’s future. These include escalating government debt globally, a regulatory environment that has shifted from adversarial to supportive, and the introduction of Bitcoin exchange-traded funds (ETFs).

The advent of Bitcoin ETFs, in particular, has significantly simplified institutional investment in the asset. Hougan emphasized that Bitcoin is no longer a niche asset but is now considered alongside traditional assets like stocks, bonds, and real estate as a fundamental component of global investment portfolios.

Bitcoin as ‘Digital Gold’

The Bitwise CIO’s thesis explores Bitcoin’s potential to rival gold as a “digital gold,” aiming to capture a quarter of the global store-of-value market within the next decade. This projection invites scrutiny regarding its resilience against political uncertainties and inherent market volatility, questions that were also explored during the discussion.

Broader Crypto Outlook

Beyond Bitcoin, Hougan also shared a bullish perspective on Solana, describing it as possessing the essential elements for a substantial rally by year-end. He further suggested Solana has the potential to become the “new Wall Street,” indicating a significant role in future financial infrastructure.

Key Takeaways

Matt Hougan’s analysis points to a future where Bitcoin achieves substantial growth, driven by institutional integration and evolving market dynamics. His firm’s detailed report provides a framework for understanding Bitcoin’s potential as a major store of value and its increasing legitimacy within the broader financial landscape.