Source: Cointelegraph.com NewsBitcoin\u2019s expanding institutional adoption may provide the \u201cstructural\u201d inflows necessary to surpass gold\u2019s market capitalization and push its price beyond $1 million by 2029, according to Bitwise\u2019s head of European research, Andr\u00e9 Dragosch.
\n\u201cOur in-house prediction is $1 million by 2029. So that Bitcoin will match gold’s market cap and total addressable market by 2029,\u201d he told Cointelegraph during the Chain Reaction daily X spaces show on April 30.<\/p>\n
Corporations are coming for your bitcoin (feat. Andr\u00e9 Dragosch, Head of Research at Bitwise) #CHAINREACTION https:\/\/t.co\/5F3cRWBHzq\u2014 Cointelegraph (@Cointelegraph) April 30, 2025<\/p>\n
Gold is currently the world\u2019s largest asset, valued at over $21.7 trillion. In comparison, Bitcoin\u2019s market capitalization sits at $1.9 trillion, making it the seventh-largest asset globally, according to CompaniesMarketCap data. Source: Cointelegraph.com NewsBitcoin\u2019s expanding institutional adoption may provide the \u201cstructural\u201d inflows necessary to surpass gold\u2019s market capitalization and push its price beyond $1 million by 2029, according to Bitwise\u2019s head… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128387"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=128387"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128387\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=128387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=128387"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=128387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nTop 10 global assets by market capitalization. Source: CompaniesMarketCapRelated: Bitcoin treasury firms driving $200T hyperbitcoinization \u2014 Adam Back
\nFor the 2025 market cycle, Bitcoin may surpass $200,000 in the \u201cbase case\u201d and $500,000 with more governmental adoption, Dragosch said.
\n\u201cBut once you see sovereign bias like the US government stepping in, all this will change to $500,000.\u201d
\n\u201cSo the base case is $200,000, conditional on the US government not stepping in. If they step in, it will move closer toward $500,000,\u201d said Dragosch, referring to the US government\u2019s plan to potentially make direct Bitcoin acquisitions through \u201cbudget-neutral\u201d strategies.
\nThe US is looking at \u201cmany creative ways\u201d to fund its Bitcoin investments, including from tariff revenue and by reevaluating the US Treasury\u2019s gold certificates, creating a paper surplus to fund the BTC reserve without selling gold, Bo Hines of the Presidential Council of Advisers for Digital Assets said in an interview on April 14.
\nRelated: Crypto sentiment recovers, but weekend liquidity risks remain
\n\u201cStructural\u201d ETF inflows, institutional adoption prolong Bitcoin cycle
\nThe US-based spot Bitcoin exchange-traded funds (ETFs) have surpassed all expectations during their first year of trading, exceeding record trading volumes as BlackRock\u2019s iShares Bitcoin Trust ETF became the fastest-growing ETF in history.
\nThe first year is usually the \u201cslowest\u201d for ETFs, Dragosch said, highlighting the launch of the gold ETF:
\n\u201cThat alone implies that in the second and third year, we will see growing inflows. In terms of the four four-year cycle, implies that, this cycle will be prolonged by these structural inflows.\u201d
\nThe Bitcoin cycle may also be prolonged when US wirehouses start gaining exposure to Bitcoin and ETFs.
\n\u201cIn the US, the major distribution channels go via Wirehouses, which are essentially the big banks like Merrill Lynch or Morgan Stanley. […] Not even half of these wirehouses have opened up their distribution channels to US Bitcoin ETFs,\u201d the analyst said.
\nAdoption from US wirehouses may bring a \u201chuge amount of capital,\u201d since these control over $10 trillion worth of customer assets, Dragosch added.
\nMagazine: Altcoin season to hit in Q2? Mantra\u2019s plan to win trust: Hodler\u2019s Digest, April 13 \u2013 19Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"