Just when investors thought the $1 millionprice targetfor Bitcoin (BTC+0.54%)was a relic of the past, here comes Bitwise. The crypto asset manager just put out a $1.6 million price target for Bitcoin for the...
Summary
- The crypto asset manager just put out a $1.6 million price target for Bitcoin for the year 2036.
- Most likely, if it grew that far, Bitcoin would be the top-performing asset of the next decade, and it wouldn't even be close.
- So Bitwise is basically assuming that Bitcoin will continue to grow at its long-run historical rate.
- For example, JPMorgan Chase recently put out a 10-year forecast for Bitcoin, and came up with a 10% annualized growth rate over the next decade.
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