Bitwise raises bitcoin price target to $1.6 million by 2036, projects 34% annualized returns

Bitwise has significantly increased its long-term Bitcoin price target, now projecting it to reach $1.6 million by 2036. This new forecast implies an annualized return of 34% over the next 12 years. The firm also outlined a range of potential outcomes, with its bear case scenario for Bitcoin putting the price at $130,686 by 2036. Conversely, the bull case scenario envisions a much higher valuation, predicting Bitcoin could hit $3.67 million over the same decade-plus timeframe, reflecting a wide spectrum of possible future values based on various market conditions and adoption rates.