Bitwise Chief Investment Officer Matt Hougan has projected that Bitcoin's price could soar to approximately $6.5 million over the next 20 years. In a recent interview, Hougan noted that the current crypto market is in the late stages of a bear market bottom, with Bitcoin expected to fluctuate between $75,000 and $100,000 in the short term. However, he remains bullish on its long-term prospects. Hougan attributes Bitcoin's resilience in 2025 to continued corporate and ETF purchases. He also highlighted that the rise in gold prices reflects market concerns over fiat currency devaluation and asset seizure risks, which could benefit Bitcoin in the long run. While some central banks have begun preliminary research on Bitcoin, Hougan believes actual adoption may take 10 to 20 years. His long-term price forecast is based on global debt expansion, monetary inflation, and Bitcoin's digital gold properties, rather than short-term adoption changes, with a positive outlook for 2026 fundamentals.