Bitwise CIO: If Bitcoin captures a portion of the value storage market share from gold and government bonds, its price will rise to $1 million.

Matt Hougan, chief investment officer at Bitwise Asset Management, stated that Bitcoin could eventually reach $1 million per coin if it can capture a larger share of the global store of value market currently dominated by gold and government bonds. Geopolitical tensions, a potential crisis in traditional "safe" assets, and Bitcoin's fixed supply could all accelerate its rise, but most believe this will take a decade or more, rather than be an imminent event. Analysts suggest that the $1 million target is less of a precise prediction and more of a simplified representation of Bitcoin's maturation as a major global monetary asset, the outcome depending on long-term institutional adoption and the expansion of the store of value market. (CoinDesk)