Bitwise Says Bitcoin Could Reach $1.6 Million by 2036
JH Kim
Summary
- Bitwise said Bitcoin could rise to $1.6 million by 2036.
- Bitwise said rising institutional investor demand and Bitcoin's limited supply support its long-term price outlook.
- Bitwise said growing concerns over the declining value of fiat currencies could support demand for Bitcoin.
Forecast Trend Report by Period
Crypto asset manager Bitwise said Bitcoin could rise to $1.6 million by 2036.
Cointelegraph reported on October 28 that Bitwise presented the long-term price forecast based on rising institutional demand and Bitcoin's limited supply.
Bitwise said demand from institutional investors would continue to grow. It also cited Bitcoin's limited supply as a key basis for its long-term price outlook.
The firm added that mounting concerns over the declining value of fiat currencies could also support demand for Bitcoin.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.