Bitwise Raises Bitcoin Target to $1.6 Million on Institutional Demand
Bitwise Asset Management has raised its 2036 bitcoin price target to nearly $1.6 million, citing growing institutional demand and a fixed supply.
Bitwise Raises Bitcoin Target to $1.6 Million on Institutional Demand
Bitwise Asset Management has raised its 2036 bitcoin price target to nearly $1.6 million, citing growing institutional demand and a fixed supply.
Bitwise Raises Bitcoin Price Target for 2036
Bitwise Asset Management has released its 2027 Bitcoin Long-Term Capital Market Assumptions, raising its 2036 base-case bitcoin price target to $1,599,766 from $1.3 million a year earlier. According to Bitcoin Magazine, the updated forecast implies a 34.3% compound annual growth rate from the approximate $83,557 price used by the firm as of September 30, 2026.
The newly published forecast outlines three primary scenarios for the asset over the next decade. While the base case targets roughly $1.6 million, Bitwise outlines a bear case of $130,686 and a bull case reaching $3.67 million.
Institutional Demand and Market Dynamics
The upward revision of the bitcoin price target rests on three core arguments presented in the report. Bitwise highlights that institutional investors will continue adding the digital asset to their portfolios while new supply remains fixed on a predictable schedule.
Furthermore, rising government debt is expected to drive investors toward assets that cannot be printed. Bitwise estimates that institutions controlling approximately $147 trillion could allocate between 1% and 5% of their portfolios to the cryptocurrency, equating to potential purchases ranging from $1.5 trillion to $7.4 trillion.
Industry Perspectives on Market Cycles and Volatility
The past year provided a significant test for long-term market theses, with bitcoin falling 53.4% from its October 2025 peak of $126,080 to a June 30, 2026 low of $58,717. Bitwise notes this drawdown was the shallowest in the asset's history, contrasting with prior cycle declines of 77%, 84%, and 86%.
Other major financial institutions maintain varying views on the current market cycle and future price floors. VanEck suggests the slump follows historical halving patterns, while Fidelity has pointed to a potential floor around November 2026. Additionally, NYDIG indicated that a repeat of past bear markets could push cycle lows near $38,000 to $39,000, and Cathie Wood has argued that the market is nearing the end of its downturn.
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