VanEck has joined Bitwise in predicting that Bitcoin could eventually hit the $1 million mark, adding fresh momentum to bullish long-term forecasts from major asset managers.
Matthew Sigel, VanEck’s head of digital assets research, recently said Bitcoin may reach $1 million within the next five years. The forecast reflects growing institutional confidence in Bitcoin as a long-term store-of-value asset rather than a speculative cryptocurrency.
Bitcoin currently trades near $80,854, which remains far below the ambitious target. However, firms like VanEck and Bitwise believe several market trends could push prices significantly higher over time.
VanEck Sees Strong Adoption Driving Bitcoin Higher
Sigel based his outlook on three key factors:
- Rising institutional and global adoption
- Bitcoin’s fixed supply of 21 million coins
- Increasing correlation with traditional risk assets like the Nasdaq
He also noted that derivatives markets still do not show signs of excessive speculative activity. That suggests Bitcoin’s recent growth may have stronger fundamentals compared to previous market cycles.
Furthermore, VanEck has already published long-term valuation models that estimate Bitcoin could reach $2.9 million by 2050 under its base-case scenario.
Bitwise Predicts Bitcoin Could Reach $1.3 Million by 2035
Bitwise has also made aggressive Bitcoin forecasts in recent months. Chief Investment Officer Matt Hougan argued that Bitcoin could capture a larger share of the global store-of-value market currently dominated by gold and other assets.
In its 2025 long-term assumptions report, Bitwise projected Bitcoin could rise to $1.3 million by 2035. The forecast implies a compound annual growth rate of roughly 28.3%.
According to the firm, institutional demand and broader acceptance could continue driving Bitcoin adoption across financial markets.
Although the $1 million predictions remain highly ambitious, they highlight a broader shift on Wall Street. Major investment firms increasingly view Bitcoin as a macro asset competing directly with gold rather than a short-term speculative trade.
