Calamos Investments chief executive John Koudounis continues to forecast that Bitcoin could reach $1 million by 2030, arguing that broader institutional access may create a significant new source of demand.
According to Bitcoin Magazine, Koudounis said Bitcoin could experience a “huge awakening” through 2028 as banks begin lending against the asset, volatility declines and exchange-traded fund products expand. His outlook is centered on access to institutional and advised capital rather than only on increased participation by individual investors.
Institutional access is central to the forecast
Koudounis pointed to the potential involvement of large banks and sovereign wealth funds as an important development for Bitcoin’s market. Bank lending secured by Bitcoin could allow holders to obtain financing without selling the asset, while additional ETF structures could make exposure easier for financial advisers and their clients.
Exchange-traded funds are investment vehicles that can provide market exposure through a regulated tradable product. The discussion highlighted Bitcoin ETFs with downside protection, including products designed to protect 100%, 90% or 80% of an investment from losses, according to the program outline. The material also described Calamos’ research into Bitcoin over eight years before investing and its work on what was described as the world’s first downside-protected Bitcoin ETF.
The CEO also discussed why some financial advisers have remained reluctant to recommend or use Bitcoin products. The topics included the asset’s historical volatility, access to banking services and concerns associated with capital controls and “debanking.”
Bitcoin, gold and regulation
Koudounis contrasted Bitcoin with gold during the discussion, focusing on Bitcoin’s finite supply compared with gold’s scarcity. The interview also addressed the Clarity Act and Bitcoin’s classification as a commodity, although the source material does not provide further details about his position on the legislation or the regulatory framework.
The program covered wider financial-market issues as well, including stress in French government bonds and Greece’s debt crisis. It also examined Strategy’s shift from convertible notes toward perpetual preferred shares. These subjects formed part of the broader conversation about how institutions may finance and hold Bitcoin.
Koudounis’ $1 million target is a personal market view, not a reported price objective adopted by Calamos or a guarantee of future performance. The source material presents his expectation that falling volatility, lending infrastructure and ETF access could bring Bitcoin to larger pools of professionally advised capital.
Current market picture
Moneyiar market data at 2026-10-11 12:04 +03:30 put Bitcoin at $83116.806663726, up 0.4% over 24 hours but down 2.59% over seven days. Uniswap was $7.5874078367, up 1.25% in 24 hours and down 15.91% over seven days. Plasma stood at $0.0870410813, up 0.26% daily and down 8.41% weekly, while AKEDO was $0.0261485207, down 4.45% daily and 25.54% over seven days. These figures are Moneyiar data at the stated time and do not establish whether Koudounis’ forecast will be met.
