Crypto asset manager Bitwise is making bold predictions about Bitcoin’s (BTC) future, suggesting that the next ten years will see remarkable growth for the largest cryptocurrency in the world.

In a report released on Thursday, analysts from Bitwise foresee Bitcoin potentially becoming the top-performing institutional asset within the next decade, estimating its price could soar to $1.3 million by 2035.

Key Insights:

• Bitwise anticipates Bitcoin soaring to $1.3 million by 2035.
• Factors driving this growth include increased institutional adoption and demand as a hedge against inflation, alongside Bitcoin’s limited supply. However, regulatory risks and political changes remain a concern.
• The company’s analysis indicates that Bitcoin’s previous four-year growth cycles may no longer apply, although investors should brace for significant volatility despite a trend towards lower volatility in subsequent years.

The report indicates three main factors that will influence adoption and value increase: Bitcoin’s increasing recognition as an institutional asset, heightened interest in hard-asset investments during inflationary periods, and its fixed supply nature.

Bitwise stresses that while potential technological threats like quantum computing exist, they are considered less immediate than regulatory-related risks.

“We strive to adopt a conservative approach,” the report mentions, emphasizing the evolving nature of forecasting models for Bitcoin’s trajectory.