Bitcoin Price Prediction from Bitwise CIO Matt Hougan

Matt Hougan, Chief Investment Officer at Bitwise Asset Management, recently shared his insights on Bitcoin's future price trajectory — and his outlook is exceptionally bullish.

Matt Hougan, Chief Investment Officer at Bitwise Asset Management, recently shared his insights on Bitcoin’s future price trajectory — and his outlook is exceptionally bullish.

During a recent interview, Hougan discussed the factors that could propel Bitcoin to new highs, exploring the implications of Bitcoin ETFs, institutional adoption, and the broader macroeconomic landscape.

According to Hougan, Bitcoin is poised for a significant rise, potentially crossing the $1 million mark by 2029.

Hougan views BTC as a digital alternative to gold, a market valued at nearly $20 trillion. He also sees Bitcoin playing a crucial role in cross-border transactions, another multi-trillion-dollar space. With Bitcoin’s supply permanently capped at 21 million coins, Hougan believes the math points to a much higher price in the years ahead.

In the short term, Hougan highlights a powerful supply-demand imbalance. Bitcoin’s annual production is around 160,000 coins, while demand from new spot Bitcoin ETFs is soaking up approximately 500,000 coins per year.

This mismatch, he says, means something has to give — and that something will likely be the price, breaking through resistance and moving significantly higher.

“Institutions are starting to allocate”

In the institutional sphere, Hougan noted that pension funds and other major investors move slowly — often requiring months of due diligence and consulting before making investment decisions. However, some institutions have already begun allocating to Bitcoin.

He added that with the total crypto market nearing $3 trillion, having no exposure is effectively taking a short position. Allocating just 1-2% to Bitcoin isn’s viewed as aggressive; it simply brings portfolios to neutral. As institutions become more comfortable with this idea, Hougan expects Bitcoin allocations to rise steadily, providing additional fuel for long-term growth.

In Hougan’s view, Bitcoin’s journey to $1 million will be driven by its fundamental value proposition, market dynamics, and increasing institutional acceptance — a combination that could transform the crypto landscape by the end of the decade.