Bitcoin to $1M by 2029 fueled by ETF and gov’t demand — Bitwise exec

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In terms of the four four-year cycle, implies that, this cycle will be prolonged by these structural inflows.”The Bitcoin cycle may also be prolonged when US wirehouses start gaining exposure to Bitcoin and ETFs.“In the US, the major distribution channels go via Wirehouses, which are essentially the big banks like Merrill Lynch or Morgan Stanley.[...] Not even half of these wirehouses have opened up their distribution channels to US Bitcoin ETFs,” the analyst said.

Bitcoin’s expanding institutional adoption may provide the “structural” inflows necessary to surpass gold’s market capitalization and push its price beyond $1 million by 2029, according to Bitwise’s head of European research, André Dragosch.“Our in-house prediction is $1 million by 2029.

Related: Crypto sentiment recovers, but weekend liquidity risks remain“Structural” ETF inflows, institutional adoption prolong Bitcoin cycleThe US-based spot Bitcoin exchange-traded funds (ETFs) have surpassed all expectations during their first year of trading, exceeding record trading volumes as BlackRock’s iShares Bitcoin Trust ETF became the fastest-growing ETF in history.

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Article Details

Author / Journalist: Cointelegraph by Zoltan Vardai

Category: Crypto

Markets: United States

Topics: Cycle Market Wirehouses Adoption $200 Bitcoin’s Bitcoin Cointelegraph Government Dragosch Gold

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-01 @ 15:34:39 (16 hours ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 457 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 28310354

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About Coin Telegraph

Main Topics: Crypto

Official Website: cointelegraph.com

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