Bitcoin is projected to reach $1 million by 2029, supported by increasing institutional adoption and potential government demand. Bitwise’s head of research, André Dragosch, stated that Bitcoin’s base price could settle at $200,000 by the end of 2025 without further government involvement. However, with more governmental support, this could rise to $500,000. The current valuation of gold stands at over $21.7 trillion compared to Bitcoin's $1.9 trillion, highlighting Bitcoin's potential to match gold's market cap as it grows. Recent dynamics, including the rapid growth of Bitcoin exchange-traded funds (ETFs), suggest sustained inflows into Bitcoin. For instance, BlackRock’s iShares Bitcoin Trust ETF quickly became the fastest-growing ETF in history, indicating that institutional channels may further extend the Bitcoin market cycle. The adoption by major banks and the creativity of the US government in exploring Bitcoin acquisitions may significantly influence these market developments. Overall, the landscape for Bitcoin is evolving with institutional investments and government interests shaping its future trajectory.

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