Bitcoin News Today: Institutional Frenzy Could Push Bitcoin to $1.3M by 2035

Bitwise Asset Management, one of the largest investment firms in the cryptocurrency space, has released a bold forecast projecting that Bitcoin could reach $1.3 million by 2035. The prediction, outlined in the firm’s latest "Long-Term Capital Market Assumptions" report, is based on a combination of institutional demand, limited supply, and macroeconomic pressures. The projection assumes a compound annual growth rate (CAGR) of 28.3% over the next decade, significantly outpacing returns from traditional assets such as equities, bonds, and gold [2].

The firm's CIO, Matt Hougan, highlighted the shift from retail to institutional dominance in Bitcoin's demand dynamics. Institutional investors now account for a large portion of Bitcoin trading volume, with corporate holdings surging in recent quarters. Over 75% of Bitcoin trading volume on major platforms like Coinbase is now driven by institutional investors. This institutional shift has created a significant supply-demand imbalance, as institutional demand currently outpaces daily mining output by a factor of six [2].

Corporate Bitcoin adoption has also accelerated, with 35 publicly traded companies now holding at least 1,000 BTC each. Total corporate Bitcoin purchases rose 35% quarter-over-quarter in Q2 2025. Strategy, a major corporate buyer, now holds over 632,457 BTC, valued at more than $71 billion, with over 53% of that position showing unrealized gains. The increasing number of institutional buyers signals a broader trend of diversification away from traditional fiat-based assets [2].

Bitwise's projection includes multiple scenarios, with a bullish case estimating Bitcoin could reach $2.97 million and a bearish scenario predicting a drop to $88,005. The wide range of outcomes reflects the market's inherent volatility, even with growing institutional participation. However, the firm emphasizes that the inelastic supply of Bitcoin and its scarcity are critical factors in driving long-term value. With only 5.2% of the total supply remaining unmined, and annual issuance set to drop to 0.2% by 2032, Bitwise argues that Bitcoin's supply cannot match growing demand, especially in a macroeconomic environment marked by rising federal debt and inflationary pressures [2].

In parallel with its Bitcoin forecast, Bitwise has expanded its product offerings by submitting a proposal to the U.S. Securities and Exchange Commission for a spot Chainlink (LINK) ETF. The proposed fund aims to track the price of LINK tokens, the native token of the Chainlink oracle network, which provides real-world data to blockchain ecosystems. The ETF filing outlines standard creation and redemption mechanisms, with Coinbase Custody Trust Company as the proposed custodian and Coinbase Inc. serving as the prime execution agent [1]. However, the filing does not include any provisions for staking LINK, despite recent regulatory clarity from the SEC on the legality of staking activities on proof-of-stake networks [1].

The move to launch a LINK ETF is part of Bitwise’s broader strategy to diversify its crypto product suite beyond Bitcoin and Ether. This follows a similar initiative by Grayscale, which filed to convert its Avalanche Trust into a spot AVAX ETF. Analysts suggest that such moves reflect the industry's effort to broaden Wall Street’s exposure to crypto, offering investors more options in a rapidly evolving market [1].

Source: [1] Bitwise files to launch a spot Chainlink ETF in latest push for single-token crypto funds (https://www.theblock.co/post/368231/bitwise-files-to-launch-a-spot-chainlink-etf-in-latest-push-for-single-token-crypto-funds) [2] Bitwise Sees BTC Hitting $1.3M by 2035 (https://cointelegraph.com/news/dollar1-3m-bitcoin-by-2035-bitwise-thinks-so) [3] The Future of Crypto: Bitcoin's Growth Potential and Ethereum's Institutional Demand (https://fintech.tv/the-future-of-crypto-bitcoins-growth-potential-and-ethereums-institutional-demand/)