Asset management company Bitwise Asset Management released a long-term bullish forecast on October 29, 2026 at 10:30 p.m. EST, raising the 2036 BTC benchmark price target to $1.6 million, according to Woofun AI.
This decision was revealed by Kevin Helms. The background is that the price of BTC was $77,290 (down 3.08%) and the price of ETH was reported at $2,213 (down 3.61%) on the same day. Despite intense short-term market fluctuations, Bitwise maintains its long-term optimism, believing that gradual adoption by institutional investors, limited supply, and the need to prevent currency depreciation have all supported this jump in valuation.
Under the benchmark scenario, Bitwise predicts BTC price to reach $1,599,766 in 2036. This figure represents a CAGR of 34.3% compared to the reference price of $83,557 on September 30, 2026. In contrast, the previously set target price for 2035 was $1.3 million, corresponding to an annualized growth rate of 28.3%. The core logic of this increase is the expansion of the scope of the market that Bitcoin can serve and the increase in confidence in the future.
According to data compiled by Woofun AI, the model assumes that in 2036, the combined market size of gold and Bitcoin will grow from $31.1 trillion to $109.8 trillion, of which BTC will account for 25%.
Meanwhile, BTC will account for 1% of the estimated $303.5 trillion institutional investment market. This valuation framework is based on the macro context of rising government debt and currency depreciation driving demand for assets, with other uses contributing relatively little.
The key variables driving this forecast are the resilience of institutional positions and supply constraints. Bitwise's communication with 15 institutions (including pension funds, endowments, and sovereign wealth funds) showed that even though the market fell by about 50% between October 2025 and April 2026 (down 53% from October 2025 to a low in June 2026), current holders maintained or even increased their holdings. Research director Ryan Rasmussen pointed out that as institutional adoption deepens, price fluctuations are expected to abate. Over the next ten years, institutional allocations to BTC are expected to be between 1% and 5%, with corresponding purchases of $1.5 trillion to $7.4 trillion.
On the supply side, the model is based on a maximum limit of 21 million copies, and the current circulation volume is 20.1 million copies. The price range is significant under different scenarios: the bearish scenario assumes that BTC has only 2.5% of the value storage market; the price in 2036 is $130,686, with an annualized growth rate of 4.6%; the bullish scenario assumes 50% of the value storage market and 5% of institutional assets; the price can reach $3,667,911, with an annualized growth rate of 46%. These calculations are based on $83,557 on September 30, 2026.
Despite the positive long-term outlook, technological threats and regulatory risks cannot be ignored. Quantum computing uses quantum physics principles. If sufficiently advanced quantum computers come out, they may threaten existing cryptographic technology; advances in mathematics brought about by artificial intelligence also pose a potential threat. Bitwise emphasized that the BTC network requires enhanced encryption protection, and individual wallets will face security risks if not upgraded in a timely manner.
Furthermore, reversals in regulatory policies may also affect predicted results. Following several previous price increases, Bitwise once again strengthened its long-term bullish logic by refining the institutional allocation model, reflecting the industry's further confirmation of BTC's status as digital gold.