Bernstein: Bitcoin could reach $1 million by 2033

Wall Street major Bernstein has made an optimistic long-term prediction that the price of Bitcoin could reach $1 million by 2033.

JUST IN: $779 billion Bernstein says #Bitcoin It is likely to reach $1 million.

$200,000 price forecast by 2025 🚀 pic.twitter.com/zBp3o09OoL

— Bitcoin Magazine (@BitcoinMagazine) June 14, 2024

In a new report following Michael Saylor’s coverage of MicroStrategy, Bernstein analysts raised their Bitcoin price target from $150,000 to $200,000 by the end of 2025.

Bernstein has long been bullish on Bitcoin’s prospects, but his $1 million forecast by 2033 represents one of the highest institutional projections. The analysts’ thesis is based on unprecedented demand and limited future supply of spot Bitcoin ETFs.

Bernstein’s report also notes that Michael Saylor “has become synonymous with the Bitcoin brand and has positioned MSTR as a leading Bitcoin company, attracting large amounts of capital (both debt and equity) for an aggressive Bitcoin acquisition strategy.” method was emphasized.

“MicroStrategy positions itself as an ‘actively leveraged Bitcoin strategy and a passive ETF,’ noting that the company’s active strategies have driven Bitcoin per share higher over the past four years,” Bernstein said. said: wrote.

Bernstein also set a price target for MicroStrategy stock of $2,890, which is nearly double the current price.

The bold long-term Bitcoin outlook comes as institutions take interest in Bitcoin, with major asset managers such as BlackRock and Fidelity offering BTC investment products. Bernstein noted that these inflows into regulated vehicles are fueling the exponential price rise of Bitcoin this cycle.

Analysts believe MicroStrategy maintains its first-mover advantage as the world’s leading listed Bitcoin player. Since BTC adoption is still in its infancy, companies like MicroStrategy have room to increase their Bitcoin holdings in the coming years.