Bitcoin Magazine
Bitwise Raises Bitcoin Target to $1.6 Million as Institutions Keep Buying
Bitwise Asset Management this week released its 2027 Bitcoin Long-Term Capital Market Assumptions, raising its 2036 base-case price target for bitcoin to $1,599,766 from $1.3 million a year earlier.
The forecast implies a 34.3% compound annual growth rate from the roughly $83,557 price the firm used as of September 30, 2026. Bitwise’s bear case is $130,686 and its bull case is $3.67 million.
The base case rests on three arguments. Institutional investors will keep adding bitcoin to portfolios. New supply stays fixed on a predictable schedule. Rising government debt will push investors toward assets that cannot be printed.
Bitwise estimates that institutions controlling about $147 trillion could allocate 1% to 5% of their portfolios to bitcoin, which the firm says would mean $1.5 trillion to $7.4 trillion of purchases. The network issues about $14 billion in new coins per year, and Bitwise argues that gap will push prices higher.
Institutional plumbing is already expanding. U.S. spot bitcoin ETPs hold about $108 billion, according to the report. Banks and brokerages are building custody and trading services, and a recent report describes sovereign wealth funds and family offices buying during the 2026 decline.
Regulators are also moving. A Federal Reserve capital proposal aimed at easing bank custody rules could widen access for large institutions, if adopted.
The past year tested that thesis. 4% from its October 2025 peak of $126,080 to a June 30, 2026 low of $58,717. Bitwise calls that drawdown the shallowest in the asset’s history.
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