Bitwise CIO Projects Bitcoin Price at $1 Million

Edgen Crypto

·Mar 11 2026, 02:12

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Key Takeaways

Bitwise Chief Investment Officer Matt Hougan reaffirmed his forecast that Bitcoin could reach $1 million per coin. The projection is based on a fundamental analysis of Bitcoin's potential to capture a significant share of the global store-of-value market.

Bitwise's CIO, Matt Hougan, reiterated his long-term price target for Bitcoin, projecting a potential value of $1 million per coin.
The forecast assumes Bitcoin will capture 17% of a global store-of-value market that is estimated to grow to $121 trillion within a decade.
This bullish outlook from a major ETF provider strengthens the "digital gold" narrative and could fuel further investment into spot Bitcoin ETFs.

Bitwise CIO Reaffirms $1 Million Bitcoin Target

On March 10, 2026, Bitwise Chief Investment Officer Matt Hougan released a memo reinforcing a highly bullish long-term forecast for Bitcoin. He reaffirmed his prediction that the price of a single Bitcoin could reach $1 million. This statement from a key executive at a prominent spot Bitcoin ETF provider underscores deep institutional conviction in the digital asset's potential as a macro-financial instrument.

Hougan's valuation model is rooted in a fundamental analysis of Bitcoin's role as a store of value. The forecast hinges on the projection that the total global store-of-value market will grow to an estimated $121 trillion within the next decade. The core of the thesis is that Bitcoin will successfully capture 17% of this vast market, directly competing with and displacing traditional assets like gold. This framework positions Bitcoin not as a speculative instrument but as an emerging global asset class. The growth of regulated investment products like spot Bitcoin ETFs is a critical catalyst in this scenario, providing the financial plumbing for capital to flow from traditional markets into the digital asset.

Bitwise CIO Reaffirms $1 Million Bitcoin Target

Path to $1M Relies on 17% Market Share Capture