The consensus among these bulls is that Bitcoin could hit $1 million within the next few years. The newest member of this club is Brian Armstrong, chief executive officer of crypto exchange Coinbase Global (COIN 2.61%). Institutional adoptionThe biggest reason to be optimistic about Bitcoin, Armstrong says, is the soaring rate of institutional adoption. Simply put, large institutional investors are now choosing to allocate a bigger and bigger portion of their portfolios to Bitcoin. The most likely outcome right now (with a 66% likelihood) is for Bitcoin to hit a price of $125,000 by year-end.