Bernstein analysts In their most recent market report that also included coverage of Bitcoin, Gautam Chowgani and Mahika Spra revised their Bitcoin price target. MicroStrategy. The analysts have also identified factors which they think could be contributing to the exponential rise in BTC prices.
Bitcoin to Hit $200k and then $1 million
Chhugani and Sapra predicted in the report that BTC will rise to a cycle high of $200,000 by 2025 and that the flagship crypto will reach $1 million by 2033. Bernstein had previously predicted Bitcoin will reach $150,000 in 2025. These analysts now have revised their target and alluded the institutional demand BTC, citing it as one reason they believe that the cryptocurrency can soar.
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According to the research, it is predicted that by 2025, there will be a doubling of global population. Spot Bitcoin ETFs The demand for Bitcoin will remain high and the Bitcoins under management may reach $190 billion dollars by 2025. This is a substantial increase over the 60 billion BTC that fund issuers currently have.
Other words, analysts will expect BTC’s price Spot Bitcoins ETFs will succumb to supply and demand dynamics as they continue to collect a large amount of crypto tokens for their respective ETFs. Two other ETFs are also available. Bitcoin halvings The number of deaths expected before 2033 will further reduce miners’ supply They are thereby proving their case. BTC hitting $1 million.
BTC Growth Will Benefit MicroStrategy
Berstein analysts have also begun coverage of MicroStrategy With an Outperform Rating. The analysts predict the stock of MicroStrategy can reach $2,890 due to BTC exposure. MicroStrategy’s stock would have increased by 95% to reach $2,890. currently valued Around $1,500.
MicroStrategy is committed to a number of initiatives, according to the research firm. “building the world’s largest Bitcoin company.” Chhugani, Sapra and others have already stated how the software firm has changed from being a “small software company to the largest BTC holding company” Since August 2020, when it began accumulating BTC.
MicroStrategy is already a MicroStrategy company 1.1% of Bitcoin’s total supplyWith holdings valued at around $14.5 billion. BTC’s holdings should increase in the near future, since they have recently increased. announced Plan to offer Convertible Senior Securities worth $500 Million. The proceeds of this proposed sale will go towards buying additional BTC.
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Berstein highlighted the co-founder of Berstein’s company Michael Saylor The company, which is the leader in Bitcoin technology and services, has been able to attract both debt and equity capital for its active Bitcoin business. Bitcoin acquisition strategy.” Bernstein pointed out that MicroStrategy’s Bitcoin NAV (net asset value) per share was calculated in dollar terms. “has grown nearly fourfold, surpassing the 2.4x growth in Bitcoin’s spot price.”
“We believe MSTR’s long term convertible debt strategy allows it enough time to gain from Bitcoin upside, with limited liquidation risk to its Bitcoin on balance sheet.” Chhugani Sapra and added.
Featured image was created with Dall.E chart, from Tradingview.com
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Source: www.newsbtc.com