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Project Overview
Block, Inc. (NASDAQ:SQ)is a technology company focused on financial services and digital payments. The company was founded in 2009, formerly known as Square, Inc., and was renamed Block in 2021 to reflect its expanding product portfolio. The company operates Square merchant payment solutions, Cash App (provides peer-to-peer payments and Bitcoin transactions), Afterpay (provides buy-to-pay-after-pay), TIDAL (provides music streaming services), Bitkey (provides self-hosted Bitcoin wallets), and Proto (provides Bitcoin mining services).
Cancore Completes $7.2 Million Seed Round with Participation from Paper Ventures and Others
Cancore, a cross-chain trading platform built on the Canton network, has completed a $7.2 million seed round. The round was conducted through Simple Agreements for Future Tokens (SAFT), corresponding to a fully diluted valuation (FDV) of $60 million for its planned CNRX token.The round was participated in by Paper Ventures, dao5, ArkStream Capital, X Ventures, MH Ventures, and Proof of Talk, with Paper Ventures and dao5 receiving the largest allocations. Wasif Rashid, co-founder and CEO of Cancore, said the company began engaging with investors in June this year, officially launched fundraising in July, and closed the round in mid-September. (The Block)
Dataline Closes $10.6 Million Seed Round, Backed by Coinbase Ventures and Others
According to The Block, Dataline, a decentralized data network for AI agents, has announced the closing of a $10.6 million seed round, co-led by Lattice and Samsung-backed Dispersion Capital, with participation from Symbolic Capital, Coinbase Ventures, Anagram, and Robinhood CEO Vlad Tenev. The round closed in April and utilized a SAFE with token warrants, though the valuation was not disclosed. Dataline plans to launch its token by the end of the year and conduct a public sale on Base via Uniswap’s Continuous Clearing Auction (CCA) mechanism, with specific details expected to be released next week. The team hopes to make this offering the largest Uniswap CCA on Base, but has not disclosed the total raise amount or the number of tokens being sold.
OpenWorld has agreed to acquire AI agent company Blocksight, which will oversee the operations of a tokenized financing plan exceeding $1.1 billion.
According to The Block, NASDAQ-listed company OpenWorld (ticker: OPNW) has signed a merger agreement to acquire AI agent company Blocksight. Blocksight's AI agents are expected to serve as the operating layer for OpenWorld's recently announced tokenized financing program, responsible for transaction structuring, asset verification, and daily reporting, with the total financing amount exceeding $1.1 billion.
Strive Adds Approximately 7,600 BTC Over Two Weeks, TD Cowen Raises Price Target to $56
According to The Block, TD Cowen analysts Lance Vitanza and Jonnathan Navarrete raised their price target for Strive (ASST) on Friday from $44 to $56. Strive's bitcoin holdings have increased to 35,595 BTC, valued at approximately $2.9 billion, up from 28,000 BTC at the end of September. This represents an acquisition of nearly 7,600 BTC over two weeks, surpassing TD Cowen's previous forecast of adding 4,750 BTC in the fourth quarter. The purchases include 3,311 BTC acquired on Tuesday (approximately $280 million, marking its largest single transaction since January) and 2,822 BTC on Wednesday. Strive is now the publicly traded company with the fourth-largest bitcoin treasury, marginally ahead of MARA's reported holdings. Strive has simultaneously expanded its SATS preferred stock offering to 7 million shares at $90 per share, targeting $630 million in proceeds, with completion expected by October 20. The company plans to reserve cash sufficient to cover dividend payments for 18 months. TD Cowen expects the offering to fund future bitcoin acquisitions without necessitating additional common stock issuance.
Uniform Labs, Developer of Multiliquid, Raises $8 Million Led by Polychain
According to The Block, Uniform Labs, the developer of the tokenized asset settlement platform Multiliquid, has raised $8 million across pre-seed and seed rounds. Polychain led the latest seed round, with participation from Strobe Ventures, CMT Digital, Metalayer Ventures, Generative Ventures, and Circle Ventures. The exact allocation of the funding between the two rounds and the company's valuation have not been disclosed.
DriveWealth partners with Ripple to use RLUSD stablecoin for settlement and cross-border payments.
According to The Block, broker infrastructure company DriveWealth announced a partnership with Ripple to integrate Ripple's RLUSD stablecoin into its platform for cross-border settlement, stablecoin payments, and digital asset custody services. The collaboration will operate on the XRP Ledger, allowing clients to fund collateral accounts around the clock and supporting near-real-time conversion of stablecoins into cash. The partnership will initially launch in Europe before expanding to the United States, while both parties will also explore equity financing opportunities through Ripple Prime. This initiative further advances RLUSD's penetration into institutional financial infrastructure, with Standard Chartered Bank also announcing the launch of RLUSD custody services this week.
Cash App to Transform into a Comprehensive Digital Bank: Expanding into Stocks, ETFs, Custom Debit Cards, and Other Financial Products
Odaily reports: Block, the fintech company under Jack Dorsey, has announced it will push its crypto and payment platform Cash App to transform into a comprehensive digital bank, aiming to boost user engagement and customer retention through products including stock, ETF, and Bitcoin trading, short-term loans, high-yield savings, and custom debit cards. Currently, Cash App has 9.4 million users who use it as their primary banking tool, up 17% year-over-year. However, it still faces stagnant user growth and regulatory pressure, as some users primarily use Cash App for occasional transfers rather than everyday banking, investing, and spending services. (Bloomberg)
CFTC Sues Utah to Block Its Restrictions on Prediction Markets
Odaily reports: The Commodity Futures Trading Commission (CFTC) has filed a lawsuit in the U.S. District Court for the District of Utah seeking to block Utah from taking action against prediction markets. A week earlier, Utah officials sued prediction market platform Kalshi and its affiliates, seeking to recover up to $60 million in profits allegedly obtained illegally through event contracts.The CFTC stated that Utah is attempting to circumvent congressional intent and restrict the operations of exchanges registered by the agency. The complaint notes that the relevant event contracts qualify as swaps under the federal Commodity Exchange Act, and exchanges offering trading in such contracts are subject to CFTC regulation; Utah's actions infringe on federal regulatory authority over commodity derivatives markets.This lawsuit is yet another dispute between federal and state governments over jurisdiction concerning prediction markets. New Jersey officials in September of last year asked the U.S. Supreme Court to hear their case against Kalshi, and similar lawsuits have been filed in Michigan, Ohio, and other states; as of Tuesday, the Supreme Court had not announced whether it would accept the case. (Cointelegraph)
BlackRock Partners With SBI and Startale to Explore Interoperability Between Tokenized Money Market Funds and Japanese Yen Stablecoins
According to The Block, BlackRock Financial Management Company, BlackRock Japan, Japanese financial group SBI Holdings, and Startale Group have signed a memorandum of understanding (MOU) to explore linking tokenized money market funds (MMFs) with the Japanese yen stablecoin JPYSC, and will research related technological infrastructure, business models, distribution channels, and regulatory requirements.
Phantom Launches Prediction Market Service for U.S. Users, Says It Is "Confident and Reassured" on Regulatory Disputes
Odaily reports: Crypto wallet Phantom began rolling out Kalshi prediction market services to U.S. users on October 23, allowing users to trade event contracts directly within the app, with availability set to gradually expand over the coming weeks. Users must complete Kalshi's KYC verification and can fund trades through a Phantom Cash account using CASH, a U.S. dollar-pegged stablecoin. Due to lawsuits in various states, Phantom will temporarily restrict sports, election, political, and certain other category markets in some states.Kevin Jacobs, Phantom's general counsel, said the company believes the U.S. Commodity Futures Trading Commission (CFTC) has clear jurisdiction over such products and will comply with state restrictions during the litigation. (The Block)
Ethereum Foundation delays Hoodi testnet Glamsterdam upgrade, requiring further review of EIP-8037
According to The Block, the Ethereum Foundation announced a delay of the Glamsterdam upgrade, originally scheduled for October 26 on the Hoodi testnet, to allow for further review of EIP-8037's interaction with mainnet smart contracts. A new activation date has not yet been announced. Hoodi is one of Ethereum's test networks, primarily used to validate network upgrades before they go live on the mainnet.
Internal Investigation and Investment Fund Misuse Controversy Continue to Spread? Polymarket Fires CMO
via The Block on X that, according to the New York Post, prediction market platform Polymarket has fired its Chief Marketing Officer Matthew Modabber, who was closely associated with Polymarket CEO Shayne Coplan.According to reports, the dismissal followed an internal investigation. The investigation was launched earlier this year, prompted by a series of incidents that raised concerns among the company's investors.
Avail launches Hyperliquid privacy tool ShieldTX
Avail has launched ShieldTX, a privacy tool for Hyperliquid traders, which reduces the ability of on-chain copy-trading bots to link transaction records and replicate trading strategies by creating a separate wallet for each perpetual contract position.According to research provided to The Block ahead of ShieldTX's launch, the tool analyzed 332,317 trading wallets on Hyperliquid and sampled 7 of the top 100 traders along with suspected copy-trading wallets, estimating that the median added cost per trade for copied traders due to execution price impact is 63 basis points, or 0.63%. The research also shows that among Hyperliquid's top 150 accounts, about 29% use sub-accounts, but the associated wallets may still be linkable on-chain. (The Block)
Zcash Co-Founder Proposes Halting Automatic Community Grants Funding, Says Program Holds Over $125M
Odaily Report: Zcash co-founder Sean Bowe has submitted a proposal to stop the automatic allocation of block rewards to the Zcash Community Grants (ZCG) program and redirect the remaining 8% of block rewards originally allocated to the program to the Network Sustainability Mechanism (NSM). He stated that ZCG currently holds over $125 million in funds and will receive several million more before the funding inflow stops, and that the existing grants program was not designed to manage funds of this scale.According to the draft proposal, ZCG holds 91,452.98 ZEC and approximately $8.8 million in USD-denominated assets, with $2.4 million in outstanding grant commitments. Bowe noted that the current 8% allocation mechanism generates over $68 million worth of ZEC per year, while the Financial Privacy Foundation disclosed that ZCG's spending in the first quarter of 2026 was only $1.53 million. If the proposal is approved, the original allocation percentage will be redirected to the NSM, and the total Zcash issuance will not increase. Meanwhile, the separate 12% of block rewards allocated to the Coinholder-Controlled Fund will remain unchanged. ZCG will still be able to retain and manage its existing assets, continue approving grants, and fulfill outstanding commitments.The proposal has not yet specified an activation block height and has not been included in the currently planned NU7 network upgrade; it would require a future network upgrade to take effect. (The Block)
StoneX raises target price for Bitcoin treasury company Strive by 34% to $43, as its holdings increase to 43,000 BTC.
According to The Block, StoneX raised its price target for Bitcoin treasury company Strive (ASST) from $32 to $43 and maintained a "Buy" rating. Analysts believe that the company's recent expansion of its preferred stock issuance will help improve its Bitcoin accumulation strategy and capital structure. On October 20, Strive completed a $630 million preferred stock IPO, issuing 7 million shares of SATS preferred stock with a 15% annual dividend rate. Additionally, the company disclosed that it acquired an additional 6,182 BTC between October 17 and 23, bringing its total holdings to 43,000 BTC and ranking fourth among public companies in Bitcoin holdings.
Market selling pressure begins to erode institutional demand? Bitcoin ETF sees largest single-day net outflow since June
Odaily reports: U.S. spot Bitcoin ETFs saw a net outflow of $635.6 million on Thursday, the largest single-day net outflow since June. Among them, BlackRock's IBIT saw a net outflow of $254.1 million, Fidelity's FBTC saw a net outflow of $217.5 million, and Ark Invest and 21Shares' ARKB saw a net outflow of $109.4 million. Morgan Stanley's MSBT bucked the trend with a net inflow of $2.3 million; since its launch in April this year, the fund has recorded only one single-day net outflow.Despite the large outflow on Thursday, U.S. spot Bitcoin ETFs still recorded cumulative net inflows of $442.7 million this week. Since their launch in January 2024, such ETFs have accumulated more than $57 billion in net inflows, with assets under management exceeding $100 billion. Meanwhile, U.S. spot Ethereum ETFs saw a net outflow of $110.6 million on Thursday, Solana and Hyperliquid ETFs also saw outflows, while XRP ETFs recorded a net inflow of $3.6 million.In the market, Bitcoin fell to about $81,500 at one point on Friday, down 3.4% over the past 24 hours. The selloff in U.S. tech stocks spread to Asian markets, compounded by concerns over AI spending and geopolitical tensions, weighing on crypto market performance. Over the past 24 hours, liquidations of leveraged positions in the crypto market totaled at least $440 million, of which about $397 million were long liquidations. Jeff Anderson, head of STS Digital's U.S. division, said the market has recently remained in a trading range of $80,000 to $86,000, and attention should be paid to the direction of a breakout from the range. (The Block)
JPMorgan: Regulatory measures can partially offset the impact of the stalled Clarity Act, but political and legal risks remain.
According to The Block, JPMorgan analysts including Nikolaos Panigirtzoglou stated in Wednesday's report that recent actions by U.S. regulators are partially offsetting the adverse impact of the Senate's failure to advance the Clarity Act, but until a crypto market structure bill is enacted, the political and legal risk premium will persist. Analysts note that regulator-driven measures could encourage institutional participation in the short term, but only legislation can ensure a more durable regulatory framework. If the Democratic Party wins the White House, existing regulatory measures could be overturned within as little as two years. The bill is unlikely to pass this year and may instead be put back on the agenda in 2027.
Bitcoin's 28-day volatility drops to 1.2%, near 2026 lows, as market awaits Fed decision
Bitcoin's 28-day volatility has fallen to 1.2%, close to its lowest level since 2026, reflecting subdued trading activity in the current market. K33 analysts expect Bitcoin market volatility to pick up as next week's Federal Reserve interest rate decision and the U.S. midterm elections on November 3 approach. (The Block)
Israel extradites to the U.S. the suspect accused of stealing $2.8 million in Nomad crypto assets.
U.S. prosecutors allege that on August 1, 2022, Brock exploited a vulnerability in the Nomad verification mechanism to withdraw approximately $2.8 million worth of tokens without locking corresponding assets. He subsequently exchanged them for other cryptocurrencies and transferred them across multiple wallets to obscure the source of funds. The U.S. District Court for the Northern District of California indicted him on eight counts in August 2023, involving computer fraud, conversion of stolen property, and money laundering, and filed an extradition request in December 2024. Brock was arrested in May 2025 at Ben Gurion Airport while preparing to travel to Russia. Shortly before his arrest, he had changed his surname to Block and obtained a new passport.
Israel Extradites Suspect in Nomad Bridge Attack to the U.S., Related Exploit Later Led to Over $186 Million Stolen
Odaily reports: Israel's State Attorney's Office announced on Thursday that Israel has extradited Alexander Block, a dual Israeli-Russian national, to the United States. Block, whose original name is Alexander Gurevich, faces charges for allegedly stealing approximately $2.8 million from the crypto cross-chain bridge Nomad in 2022.U.S. prosecutors allege that Block, operating under the username "Bitlik," carried out six test transfers and four main transfers, moving tokens through multiple wallets and converting them into other cryptocurrencies to conceal their origin. His actions exposed a vulnerability in Nomad's smart contract, after which other users drained over $186 million from wallets controlled by the project.Israel's Supreme Court rejected Block's extradition appeal, ruling that even if the software permits the actions in question, exploiting a programming vulnerability can still constitute unauthorized computer intrusion; the court also noted that publicly visible on-chain transactions do not necessarily reveal the identity of wallet controllers, nor do they rule out attempts to conceal the source of funds. Supreme Court President Isaac Amit subsequently denied his request for a retrial. (Decrypt)
Polygon Releases Bor v2.10.3, Fixing Two Parallel Block Execution Denial-of-Service Vulnerabilities
Polygon Labs has announced the official release of Bor v2.10.3, which fixes two medium-severity denial-of-service vulnerabilities in BlockSTM V2 parallel block execution. Both issues were reported through the Immunefi bug bounty program.In addition, the new version includes multiple security and stability improvements, such as transaction filtering, RPC execution concurrency limits, and pending transaction cleanup. The team stated that the affected versions are Bor v2.10.1 and v2.10.2, where BlockSTM V2 is enabled by default, and that no exploitation of these vulnerabilities has been detected on the mainnet or the Amoy testnet. This upgrade does not involve a hard fork, and nodes can upgrade gradually as needed.
The Zano network was attacked due to a gateway address vulnerability, forcing it to restart the blockchain.
According to The Block (@TheBlockCo), the Zano network was recently subjected to a Gateway Address vulnerability attack, resulting in the unauthorized minting of ZANO and fUSD that have since entered the market. To contain the losses, the team has urgently restarted the blockchain. The team is currently actively negotiating with affected projects and relevant counterparties regarding compensation for losses, and will publish a formal compensation and claims process in the near future.
Cosmos Hub Resumes Block Production, Neutron Attacker Wallet Transfers 1.23 Million ATOM
According to The Defiant, Cosmos Hub resumed operations after ceasing block production for 24 hours and 48 minutes. The Neutron attacker purchased voting power for 20,199 USDC and completed staking just 12 minutes before an expedited proposal expired; the relevant wallet subsequently transferred 1.23 million ATOM.
Glamsterdam Test: Attackers Could Exploit Free Testnet ETH to Win Sepolia Block Auctions and Withhold Transaction Payloads
Odaily reports: Ethereum developers have warned that attackers could exploit free testnet ETH and one-time builder identities to win Sepolia block auctions and withhold transaction payloads during the Glamsterdam testing period.This attack does not threaten mainnet funds, but it could disrupt infrastructure testing. The Sepolia public test is scheduled to launch on October 6, while the Hoodi test is tentatively set for October 27. The mainnet activation date remains undetermined. (CoinDesk)
Uniswap Labs Opens TJAR Fee Conversion Tool to Third-Party Apps, Robinhood Becomes First Partner
According to The Block, Uniswap Labs has launched the open-source fee conversion tool TJAR, enabling applications to convert cross-chain fees collected in various tokens into a specified token, with Robinhood becoming the first integrated partner. The tool leverages smart contracts to allow searchers to compete for executing token swaps, while applications retain full autonomy to select their preferred receiving token and recipient address.
Curve Finance Expands Beyond the EVM Ecosystem for the First Time, StableSwap Now Live on the Stellar Mainnet
According to The Block, decentralized trading protocol Curve Finance has launched StableSwap on the Stellar mainnet, marking its first native deployment outside the EVM ecosystem. Users can now permissionlessly create liquidity pools, swap assets, and provide liquidity on Stellar.
Bitwise: Ten-Year Bitcoin Price Forecast Raised from $1.3 Million to $1.6 Million
According to The Block, in its report published on Wednesday titled "2027 Bitcoin Long-Term Capital Market Assumptions," crypto asset management firm Bitwise raised its 10-year Bitcoin price forecast from $1.3 million to $1.6 million, projecting a compound annual growth rate (CAGR) of 34.3% for Bitcoin over the period. The report states that the base case scenario assumes Bitcoin will capture 25% of the global store-of-value market and 1% of institutional investment assets by 2036; its bear case is $130,686, while its bull case is $3.67 million. Bitwise Chief Investment Officer Matt Hougan stated that the company maintained its market share assumptions unchanged but increased its 2036 estimate for the global store-of-value market from $91 trillion to $110 trillion, and its institutional investment market size from $216 trillion to $303 trillion. The report also noted that Bitcoin's maximum supply is 21 million coins, with 20.1 million currently in circulation, accounting for 95.7% of the total supply.
Avail launches Hyperliquid privacy tool ShieldTX
Avail has launched ShieldTX, a privacy tool for Hyperliquid traders, which reduces the ability of on-chain copy-trading bots to link transaction records and replicate trading strategies by creating a separate wallet for each perpetual contract position.According to research provided to The Block ahead of ShieldTX's launch, the tool analyzed 332,317 trading wallets on Hyperliquid and sampled 7 of the top 100 traders along with suspected copy-trading wallets, estimating that the median added cost per trade for copied traders due to execution price impact is 63 basis points, or 0.63%. The research also shows that among Hyperliquid's top 150 accounts, about 29% use sub-accounts, but the associated wallets may still be linkable on-chain. (The Block)
Bankless: Zcash Development Funding Surplus Sparks Controversy, Four Proposals Target Block Reward Distribution Mechanism
Bankless published an article discussing the controversy surrounding excess development funding for Zcash, noting that the size of the Zcash development grant pool has continued to expand, with its current estimated net value reaching approximately $125 million—far exceeding immediate expenditure needs. Zcash co-founder and current head of Tachyon, Sean Bowe, has introduced a proposal recommending the termination of the 8% block reward currently allocated to ZCG during a future network upgrade. On the development funding mechanism, the community has so far put forward four proposals, which respectively involve ending ZCG grants, eliminating the entire development fund allocation system, or gradually reducing the allocation rate to zero. Proponents argue that the current mechanism causes funds to continuously accumulate as ZEC prices rise, while ZCG remains outside direct control by token holders. Opponents, however, worry that scaling back development funding without viable alternatives could hinder the protocol’s ongoing development and maintenance. All proposals remain under discussion and have not yet been finalized.
Janus Henderson launches the first licensed Nasdaq 100 tokenized fund JQQQ, deployed on Stellar.
According to The Block, citing the Wall Street Journal, asset manager Janus Henderson is launching JQQQ, the first licensed tokenized fund tracking the Nasdaq 100 Index. The fund leverages technology from Centrifuge and is deployed on the Stellar blockchain. Initially, JQQQ will be open only to eligible non-US professional investors, with a minimum investment of $100,000.
Related news
Israel extradites to the U.S. the suspect accused of stealing $2.8 million in Nomad crypto assets.
U.S. prosecutors allege that on August 1, 2022, Brock exploited a vulnerability in the Nomad verification mechanism to withdraw approximately $2.8 million worth of tokens without locking corresponding assets. He subsequently exchanged them for other cryptocurrencies and transferred them across multiple wallets to obscure the source of funds. The U.S. District Court for the Northern District of California indicted him on eight counts in August 2023, involving computer fraud, conversion of stolen property, and money laundering, and filed an extradition request in December 2024. Brock was arrested in May 2025 at Ben Gurion Airport while preparing to travel to Russia. Shortly before his arrest, he had changed his surname to Block and obtained a new passport.
Israel Extradites Suspect in Nomad Bridge Attack to the U.S., Related Exploit Later Led to Over $186 Million Stolen
Odaily reports: Israel's State Attorney's Office announced on Thursday that Israel has extradited Alexander Block, a dual Israeli-Russian national, to the United States. Block, whose original name is Alexander Gurevich, faces charges for allegedly stealing approximately $2.8 million from the crypto cross-chain bridge Nomad in 2022.U.S. prosecutors allege that Block, operating under the username "Bitlik," carried out six test transfers and four main transfers, moving tokens through multiple wallets and converting them into other cryptocurrencies to conceal their origin. His actions exposed a vulnerability in Nomad's smart contract, after which other users drained over $186 million from wallets controlled by the project.Israel's Supreme Court rejected Block's extradition appeal, ruling that even if the software permits the actions in question, exploiting a programming vulnerability can still constitute unauthorized computer intrusion; the court also noted that publicly visible on-chain transactions do not necessarily reveal the identity of wallet controllers, nor do they rule out attempts to conceal the source of funds. Supreme Court President Isaac Amit subsequently denied his request for a retrial. (Decrypt)
Cash App to Transform into a Comprehensive Digital Bank: Expanding into Stocks, ETFs, Custom Debit Cards, and Other Financial Products
Odaily reports: Block, the fintech company under Jack Dorsey, has announced it will push its crypto and payment platform Cash App to transform into a comprehensive digital bank, aiming to boost user engagement and customer retention through products including stock, ETF, and Bitcoin trading, short-term loans, high-yield savings, and custom debit cards. Currently, Cash App has 9.4 million users who use it as their primary banking tool, up 17% year-over-year. However, it still faces stagnant user growth and regulatory pressure, as some users primarily use Cash App for occasional transfers rather than everyday banking, investing, and spending services. (Bloomberg)
Uniswap Labs Opens TJAR Fee Conversion Tool to Third-Party Apps, Robinhood Becomes First Partner
According to The Block, Uniswap Labs has launched the open-source fee conversion tool TJAR, enabling applications to convert cross-chain fees collected in various tokens into a specified token, with Robinhood becoming the first integrated partner. The tool leverages smart contracts to allow searchers to compete for executing token swaps, while applications retain full autonomy to select their preferred receiving token and recipient address.
Curve Finance Expands Beyond the EVM Ecosystem for the First Time, StableSwap Now Live on the Stellar Mainnet
According to The Block, decentralized trading protocol Curve Finance has launched StableSwap on the Stellar mainnet, marking its first native deployment outside the EVM ecosystem. Users can now permissionlessly create liquidity pools, swap assets, and provide liquidity on Stellar.
Bitwise: Ten-Year Bitcoin Price Forecast Raised from $1.3 Million to $1.6 Million
According to The Block, in its report published on Wednesday titled "2027 Bitcoin Long-Term Capital Market Assumptions," crypto asset management firm Bitwise raised its 10-year Bitcoin price forecast from $1.3 million to $1.6 million, projecting a compound annual growth rate (CAGR) of 34.3% for Bitcoin over the period. The report states that the base case scenario assumes Bitcoin will capture 25% of the global store-of-value market and 1% of institutional investment assets by 2036; its bear case is $130,686, while its bull case is $3.67 million. Bitwise Chief Investment Officer Matt Hougan stated that the company maintained its market share assumptions unchanged but increased its 2036 estimate for the global store-of-value market from $91 trillion to $110 trillion, and its institutional investment market size from $216 trillion to $303 trillion. The report also noted that Bitcoin's maximum supply is 21 million coins, with 20.1 million currently in circulation, accounting for 95.7% of the total supply.