- Can Bitcoin reach $3 million by 2035?
- Strategy now holds 3% of entire Bitcoin supply
Crypto index fund and ETF provider Bitwise Asset Management has announced its Bitcoin price predictions expected to come true by 2035. The data was shared on the X platform by crypto trader account @crypto_rand.
According to this data, Bitwise expects Bitcoin to closely approach the $3 million mark in the very best case. There are several predictions, including a bearish one. The latter puts the future Bitcoin price level below $90,000.
Can Bitcoin reach $3 million by 2035?
Bitwise has made three price predictions that may occur 10 years from now. They include a bull case, bear case and a base case. The price targets between a bear and a basic case are radically different, while the bull market target is also substantially bigger than that for the basic case.
In accordance with Bitwise, in a base case, Bitcoin is likely to reach $1,306,740. A bear case may take BTC down as low as $88,005. Finally, if the bull case occurs, we will see Bitcoin hitting $2,976,927 per coin.
Bitwise’s predictions are based on several criteria, which include the element of Bitcoin in several markets: institutional investment assets, store of value, U.S. corporate treasuries, national treasury reserves, global remittances, etc.
Strategy now holds 3% of entire Bitcoin supply
Financial institutions continue to accumulate Bitcoin. In particular, recently, President Donald Trump signed an executive order permitting 401(k) corporate pension schemes to expand their investments to Bitcoin and real estate from only bonds and stocks. Besides, Bitcoin treasury companies keep stocking up on BTC.
On Monday, Strategy announced a scheduled Bitcoin acquisition as it added 3,081 BTC to its holdings, which now total a whopping 632,457 BTC worth $69,498,486,130. Thus, Strategy now holds a total of 3% of the entire circulating Bitcoin supply.
Metaplanet also bought a new Bitcoin chunk on the same day — 103 BTC valued at around $51 million. The company now holds 18,991 BTC. In July, it added a total of 3,782 BTC.
Besides, Metaplanet has been included in the FTSE Japan index.
Source: https://u.today/bitcoin-to-3-million-by-2035-bitwise-predicts-so-but-heres-huge-risk
