Just when investors thought the $1 million price target for Bitcoin (CRYPTO: BTC) was a relic of the past, here comes Bitwise. The crypto asset manager just put out a $1.6 million price target for Bitcoin for the year 2036. That's aggressive given the rate of growth that it assumes for Bitcoin over the next 10 years. Most likely, if it grew that far, Bitcoin would be the top-performing asset of the next decade, and it wouldn't even be close. Using a few back-of-the-envelope calculations, it's possible to figure out how fast Bitcoin must grow over the next decade to hit a price of $1.6 million. It works out to a compound annual growth rate (CAGR) of 34%.
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