Bitwise Chief Investment Officer Matt Hougan outlined a bullish long-term thesis for Bitcoin, projecting a price target of $1.6 million by 2036. The forecast relies on the global store-of-value market expanding to $90 trillion over the next decade, with Bitcoin's market share increasing from its current 5% to 25%. Hougan also suggested that the cryptocurrency sector likely bottomed out in June, noting that negative news cycles have lost their ability to significantly impact prices. He argued that every potential scenario for the artificial intelligence industry, whether it results in a boom or a bust, ultimately benefits Bitcoin.