Bitwise executives: Driven by ETF and government demand, Bitcoin may reach $1 million by 2029.

PANews, May 1st news, according to Cointelegraph, Bitwise Europe Research Director André Dragosch predicts that Bitcoin may reach $1 million by 2029, with its market capitalization surpassing gold (currently $21.7 trillion). His analysis indicates that the base target price for Bitcoin during the 2025 cycle is $200,000, and if the U.S. government directly allocates Bitcoin through a "budget-neutral" strategy, it could rise to $500,000. The first year performance of the U.S. Spot Bitcoin ETF exceeded expectations, with BlackRock's IBIT ETF setting a record for the fastest growth in history. Dragosch believes that as large investment banks like Merrill Lynch and Morgan Stanley gradually open their channels, "structural capital inflows" will extend the Bitcoin cycle.