Bitwise CIO: “Bitcoin (BTC) could reach $6.5 million within 20 years”

JH Kim

Summary

Matt Hougan, CIO of Bitwise, said the price of Bitcoin (BTC) could reach $6.5 million within the next 20 years.
He said that within 10–20 years, central banks around the world could end up holding more Bitcoin than gold.
He said the virtual-asset market is currently in the latter phase of the bear-market bottom, describing it as a “bottoming process” due to slower ETF inflows and reduced participation from retail investors.

A forecast has emerged that the price of Bitcoin (BTC) could reach $6.5 million within the next 20 years.

According to CoinDesk, a media outlet specializing in virtual assets (cryptocurrencies), Matt Hougan, chief investment officer (CIO) at Bitwise, said, “It is highly likely that central banks around the world will hold Bitcoin over the long term,” adding, “Within 10–20 years, central banks could end up holding more Bitcoin than gold.”

Commenting on last year’s market trends, he said, “In 2025, the virtual-asset market went through a bear market, and many altcoins fell by more than 60%,” explaining, “Even so, the reason Bitcoin was able to avoid a relatively large decline was sustained buying by corporations and spot ETFs.”

He added that “the virtual-asset market is currently entering the latter phase of the bear-market bottom,” and analyzed that it corresponds to a so-called “bottoming process,” marked by slower ETF inflows and reduced participation from retail investors.