Bernstein is a Wall Street major that has made an optimistic long-term forecast for Bitcoin, which says it will reach $1,000,000 by 2033.
JUST IN: $779 billion Bernstein says #Bitcoin The amount of money that will be spent on this project is likely to reach $1 million.
Price prediction of $200,000 by 2025🚀 pic.twitter.com/zBp3o09OoL
— Bitcoin Magazine (@BitcoinMagazine) June 14, 2024
A new report launching coverage on Michael SaylorThe MicroStrategy Bernstein analysts raised the price target of Bitcoin from $150 to $200,000 by 2025.
Bernstein’s optimism about Bitcoin has been well-established, but the $1 million estimate by 2033 is one of its highest projections. Analysts’ hypothesis is based upon unprecedented demand for spot Bitcoin ETFs, and 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.
Institutions are warming up to Bitcoin as major asset managers such as BlackRock You can also find out more about the following: Fidelity offering BTC investment products. Bernstein pointed to the fact that these vehicles are regulated and have been a major factor in driving this year’s explosive Bitcoin price rises.
MicroStrategy is expected to maintain its lead as the largest listed Bitcoin company. 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