Bitwise’s Matt Hougan revisits $1 million bitcoin — analysts agree but debate his timeline

Hougan says bitcoin could reach that milestone if it captures a larger share of the global store-of-value market, though analysts say it would likely take years of institutional adoption and macro shifts. What to know : Bitcoin could reach $1 million per coin if it captures a significantly larger share of the global store-of-value market now dominated by gold and government bonds, according to Bitwise CIO Matt Hougan. Analysts say the $1 million target is less a precise forecast than a shorthand for bitcoin maturing into a major global monetary asset, with the outcome hinging on long-term institutional adoption and expansion of the store-of-value market. Supporters argue that geopolitical tension, potential crises in traditional "safe" assets and bitcoin’s fixed supply could all accelerate its rise, though most see the timeline as a decade or longer rather than an imminent move.