Bernstein is a Wall Street major that has released a long-term bullish prediction on Bitcoin, which says it will reach $1,000,000 by 2033.
JUST IN: $779 billion Bernstein says #Bitcoin It is expected that the total will reach at least $1 million.
The price of the car is predicted to reach $200,000 in 2025🚀 pic.twitter.com/zBp3o09OoL
— Bitcoin Magazine (@BitcoinMagazine) June 14, 2024
A new report launching coverage on Michael SaylorAnalysts at MicroStrategy Bernstein have increased their Bitcoin price targets to $200,000. This is up from $150,000.
Bernstein’s optimism about Bitcoin has been well-established, but the $1 million estimate by 2033 is one of its highest projections. The analyst’s thesis is based off of unprecedented demand by spot Bitcoin ETFs as well as constrained supply in the future.
Bernstein’s Report also highlights how Michael Saylor “has become synonymous with brand Bitcoin and has positioned MSTR as a leading Bitcoin company, attracting at-scale capital (both debt and equity) for an active Bitcoin acquisition strategy.”
“MicroStrategy positions itself as an ‘active leveraged bitcoin strategy versus passive spot exchange-traded funds (ETFs),’ the report said, noting that over the last four years, the company’s active strategy has produced a higher Bitcoin per equity share,” Bernstein wrote.
Bernstein set the price of MicroStrategy’s shares at $2,890, which is nearly twice as much as they are currently priced.
Bitcoin is gaining in popularity among institutions, including major asset management firms. BlackRock You can also find out more about the following: Fidelity offering BTC investment products. Bernstein pointed to the fact that these vehicles were regulated and that they were a major factor in driving this year’s explosive Bitcoin price rises.
Analysts believe MicroStrategy will maintain its position as the leading Bitcoin listed company in the world. MicroStrategy can continue to expand their Bitcoin investments for many years as BTC is in its early stages of adoption.
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Source: bitcoinmagazine.com
