Bitcoin (CRYPTO: BTC) has the potential to reach $1 million by 2035, says Bitwise CIO Matt Hougan, but only if store of value market continues to grow the same manner for the past 20 years.

Path To $1 Million

In an Apr. 17 interview with CoinDesk, Hougan said Bitcoin is entering a long-term institutional adoption phase, driven by ETF growth, geopolitical instability and rising demand for “digital gold.”

He estimates Bitcoin could reach seven-figure valuations if it captures 15%–17% of the global store-of-value market, up from roughly 6% today.

Under that scenario, long-term price targets could extend even further, toward $1 million–$2 million.

Hougan also argued that Bitcoin’s recent…

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