India, Aug. 27 -- Bitcoin at $500,000 by 2029 sounds ambitious, but experts say it is possible if institutional demand, ETF inflows, favourable financial conditions and Bitcoin's scarcity continue to strengthen.

Bitcoin would need to rise at roughly 60% or more every year from current levels to reach $500,000 in the next three-plus years, according to Prateek Gupta, Head of Business at Mudrex. Bitcoin has delivered similar growth rates in the past. However, those big gains happened when Bitcoin was worth much less. Repeating the same pace becomes harder as the asset grows into a much larger market.

For Bitcoin to reach $500,000, several major factors would have to work together. These include strong institutional demand, continued ETF a...