Bitcoin Poised to Rise to $1.4 Million by 2035, Analysts Say
According to a CF Benchmarks price model, Bitcoin (BTC) could reach a base-case price of $1.42 million by 2035. The bear case estimates the cryptocurrency at $637,000, while the bull case projects a price as high as $2.95 million. This probability-weighted scenario suggests Bitcoin would capture about 33% of gold's market capitalization with an annualized return of approximately 30.1%.
The assumptions behind the model include stronger institutional participation, clearer regulation, deeper liquidity, improved investability, and diversification benefits due to Bitcoin's low correlations with other major asset classes. As of December 19, 2025, the Bitcoin price is around $87,133, down over 3% in the last week and about 31% below its October high of $126,080. To reach the $1 million mark, Bitcoin would need to rise by more than 1,000%.
The model was developed by Gabriel Selby and Mark Pilipczuk of CF Benchmarks, a Kraken-owned company. Other forecasts cited in the analysis include Cathie Wood and ARK Invest targeting $1.2 million by 2030 (down from an earlier $1.5 million estimate) with a potential path to $2.4 million by the same year. Michael Saylor predicts Bitcoin could hit $1 million within 4–8 years and envisions a long-term path to $20 million assuming 30% annual gains over 20 years. Coinbase CEO Brian Armstrong has also made optimistic calls about Bitcoin's potential.
It is important to note that these targets are lofty and speculative, and there are no guarantees regarding future Bitcoin prices.
