Bitwise Raises Bitcoin Price Target to $1.6 Million as Institutional Demand Grows

On October 28, 2026, Bitwise published its 2027 long-term capital market assumptions and raised its ten-year Bitcoin price target to $1.6 million by 2036 from $1.3 million. The asset manager’s model projects a 34.3% compound annual growth rate over the next decade, up from 28.3% in its prior forecast. Chief Investment Officer Matt Hougan said the revision reflects growing institutional demand and a larger store-of-value market. Bitwise assumes that market reaches $110 trillion by 2036, Bitcoin captures 25% of it, and institutions allocate 1% to 5% of portfolios to Bitcoin, generating $1.5 trillion to $7.4 trillion in demand. The forecast follows Bitcoin’s more than 50% decline between October 2025 and June 2026 and recovery from lows below $59,000.