Bitwise Asset Management’s Chief Investment Officer (CIO) Matt Hougan has delivered a striking forecast for Bitcoin, predicting BTC will reach $1 million by 2029 while disrupting gold’s dominance as a store of value. Speaking on the Coinstories podcast, Hougan outlined several key factors driving his bullish outlook, including unprecedented institutional adoption through ETFs and improving regulatory clarity.
Record-Breaking ETF Inflows Signal Institutional Momentum
The dramatic success of spot Bitcoin ETFs has emerged as a primary catalyst for institutional adoption. Hougan highlighted that Bitcoin ETFs have already accumulated $37 billion in assets – far surpassing the previous record of $5 billion for a first-year ETF launch. This exceptional demand aligns with recent research showing 83% of institutions plan to increase their crypto exposure in 2025.
Regulatory Landscape Improvement Drives Institutional Confidence
A key factor in Hougan’s million-dollar prediction is the improving regulatory environment. The Bitwise CIO emphasized that the market may be “underpricing the change in Washington,” noting how recent regulatory clarity has removed significant barriers to institutional participation. This shift comes as corporate Bitcoin treasury adoption continues to accelerate.
Supply-Demand Dynamics Support Long-Term Price Appreciation
Hougan’s analysis points to Bitcoin’s fixed supply schedule combined with surging institutional demand as key drivers for price appreciation. With corporations having purchased “hundreds of thousands of Bitcoin last year” and new buyers consistently outpacing new supply, the fundamentals support sustained price growth.
FAQ Section
Q: What is the timeline for Bitcoin reaching $1 million?
A: Hougan predicts Bitcoin will reach $1 million by 2029, driven by institutional adoption and regulatory clarity.
Q: How much have Bitcoin ETFs gathered in assets?
A: Bitcoin ETFs have accumulated $37 billion in assets since their January 2024 launch.
Q: What percentage of financial advisers currently hold Bitcoin personally?
A: Over 50% of financial advisers personally hold Bitcoin, while only 15-20% can allocate it in client portfolios.
At press time, Bitcoin trades at $84,138, maintaining strong momentum as institutional adoption continues to accelerate.