Expanding the institutional adoption of Bitcoin can provide a “structure” flow that is necessary to overcome the capital of the gold market and push its price beyond $ 1 million by 2029, according to the Head of European Research of Bitwise, André Dramotch.
“Our in-house prediction is $ 1 million by 2029. So Bitcoin will match the Gold Market Cap and Total Addressable Market by 2029,” he told Cointelegraph during the chain reaction daily x Space Show on April 30th.
Corporations will come for your Bitcoin (feat. André Dragosch, head of Bitwise research) #Chainraaction https://t.co/5f3crwbhzq
– Cointelegraph (@cointelegraph) April 30, 2025
Gold is currently the world’s largest owner, worth more than $ 21.7 trillion. In comparison, the capitalization of the Bitcoin market seated at $ 1.9 trillion, making it the seventh largest largest asset in the world, According to In CompanymarketCap data.
Related: Bitcoin treasury companies driving $ 200t Hyperbitcoinization – Adam back
For the 2025 market cycle, Bitcoin could exceed $ 200,000 in the “base case” and $ 500,000 with more government adoption, Drogosch said.
“But once you see the Sovereign bias like the US government’s entry, it will all change to $ 500,000.”
“So the basic case is $ 200,000, a US government condition that does not enter. If they come in, it will move to $ 500,000,” said Draamotch, which determines the US government’s plan to potentially produce the direct acquisition of Bitcoin through “budget-neutral” approaches.
The US looks in “many creative ways” to Funding its Bitcoin investment. Says In an interview on April 14th.
Related: Crypto sentiment reduces, but liquidity risks remain at the weekend
“Structural” ETF Inflows, Bitcoin’s institutional adoption cycle
The US Bitcoin Exchange-Traded Fund (ETF) area is all expectations have been exceeded In their first year of trading, exceeded Record trading volumes Like Blackrock’s ishares Bitcoin Trust ETF has become the fastest growing ETF in history.
The first year was usually the “slowest” for ETFs, Dragosch said, featuring the launch of Gold ETF:
“That only implies that in the second and third year, we can see the growing flow. In terms of the four-year-old cycle, it suggests that, this cycle will be kind of these structural structures.”
The Bitcoin cycle can also be long when US wirehouses begin to gain exposure to bitcoin and ETF.
“In the US, major distribution channels pass through wirehouses, which are essentially large banks such as Merrill Lynch or Morgan Stanley.
Adoption from US wirehouses can bring a “huge amount of capital,” because this control of the $ 10 trillion worth of customer assets, Drogosch added.
https://www.youtube.com/watch?v=oqemr3g8Dai
Magazine: Altcoin season to hit in Q2? Mantra plans to win trust: Hodler’s Digest, April 13 – 19
