Bitwise Chief Investment Officer Matt Hougan has projected that Bitcoin could reach $1.3 million by 2035. This forecast is based on the assumption that Bitcoin will capture 25% of gold's market capitalization, which has expanded from $2.5 trillion in 2004 to $27 trillion today. The projection comes as institutional interest in Bitcoin grows, with twelve major platforms managing trillions in assets requesting capital market assumptions over the past year. Hougan also noted Bitcoin's low correlation to equities at 0.21 and its potential for 28% annual returns over the next decade.