Bitwise analysts predict bitcoin’s growth to $ 2.97 million in 10 years

Bitwise experts have released a forecast that the value of bitcoin BTC $108,803.00 Mezo Wrapped BTC 0.23% Market capitalization $39.88 million VOL. 24 hours $0.8 billion could reach $ 1.3 million by 2035 in the baseline scenario, and almost $ 2.97 million in the most optimistic development. Such estimates are presented in the company’s Long-Term Capital Market Assumptions report, where the expected average annual growth of bitcoin is set at 28.3%. For comparison, this figure is 6.2% for stocks, 4.0% for bonds, and 3.8% for gold.

The document outlines three possible trajectories: a baseline scenario of $ 1.3 million by 2035, a bullish scenario of $ 2.97 million (39.4% growth per year), and a bearish scenario of $ 88,005 (2% growth per year). This wide range reflects the market’s volatility, but also its maturity, as institutional investors have already become the main drivers.

According to Bitwise, institutional players now account for more than 75% of Coinbase 's trading volume. In just two days, they can withdraw 2,500 BTC from exchanges, while the daily production of miners is about 450 BTC. At the same time, the number of public companies owning more than 1,000 BTC increased to 35 in the second quarter of 2025, compared to 24 at the end of the first quarter. The largest buyer remains Strategy Inc. (formerly MicroStrategy), which owns more than 632,000 BTC with unrealized profits of more than $ 25 billion.

The forecast is based on tight supply constraints: 94.8% of bitcoin is already in circulation, and the annual rate of issuance will decline from 0.8% today to 0.2% in 2032. At the same time, about 70% of coins have not moved for more than a year, which confirms the high share of long-term holders. An additional growth factor is macroeconomic pressure, in particular, the US national debt of $ 36.2 trillion and its servicing costs, which are approaching $ 1 trillion annually.

Bitwise emphasizes that the combination of tight supply and exponential demand is the main driver of the long-term price of BTC. If the forecast comes true, by the mid-2030s, bitcoin will go beyond the status of a speculative asset and establish itself as one of the most valuable asset classes in the world.