According to Bitwise’s head of European research, André Dragosch, Bitcoin could reach a price of $1 million by 2029 due to structural inflows from expanding institutional adoption and government demand, particularly from the U.S. government. The current prediction outlines a base case of $200,000 by the end of 2025 without significant government intervention, with a potential rise to $500,000 if government acquisitions occur. The U.S. is exploring budget-neutral strategies to directly acquire Bitcoin, which could significantly influence demand. Additionally, the launch of U.S.-based spot Bitcoin exchange-traded funds (ETFs) has already seen unprecedented growth, indicating a pattern of increasing inflows over the subsequent years. This trend suggests that Bitcoin's market cycle may extend further, especially as major banks begin to include Bitcoin in their offerings. Gold, currently valued at over $21.7 trillion, serves as a benchmark, and if Bitcoin matches its market cap, the anticipated growth could solidify its position among global assets.

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