Bitwise raises bitcoin price target to $1.6M by 2036

The spread between Bitwise's bear and bull cases — roughly a twelvefold gap — is the real story here, not the headline target. A ten-year horizon is long enough that such projections function more as a statement of conviction than a forecast, and asset managers publishing them often have business incentives aligned with the outcome. The open question is whether other large managers converge on similar long-horizon framing, which would signal a shift in how the industry markets bitcoin to institutional allocators.