%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment Crypto asset manager Bitwise has raised its price target on Bitcoin (CRYPTO: $BTC ) to $1.6 million U.S. by 2036. The new price target is up from $1.3 million U.S. previously. Bitwise projects that Bitcoin will generate a 34% compound annual growth rate (CAGR) over the next 10 years. Bitwise's new forecast is included in its 2027 "Bitcoin Long-Term Capital Market Assumptions" report that was released on Oct. 28. Bitwise Chief Investment Officer Matt Hougan notes in the report that 20.1 million Bitcoin, or 95.7% of its maximum supply of 21 million, is already in circulation. For its $1.6 million U.S. bull case, Bitwise assumes that Bitcoin will capture 25% of the global store-of-value market and 1% of institutional investment assets by 2036. The report's bear case puts Bitcoin's price at $130,686 U.S. by 2036, with just 2.5% of the store-of-value market. "We are more bullish on Bitcoin today than we were last year," writes Hougan. "Everything that happened in the past 12 months points to the continued long-term success of Bitcoin." The bullish report comes as analysts and investors debate whether Bitcoin's June low of $58,000 U.S. marked the end of the latest "crypto winter." Since August, Bitcoin's price has risen about 40% to around $80,000 U.S. BTC is trading at $80,075 U.S. on Oct. 29.