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Bitcoin is predicted to hit $500,000 by 2029, according to Bernstein. The bullish outlook is driven by a sustained boom in demand for bitcoin ETFs, combined with constrained supply. AdvertisementThe price of bitcoin is set to soar to $500,000 by the end of the decade, according to a recent note from Bernstein. Advertisement"This is led by unprecedented Bitcoin demand ($190Bn AUM in 2025E vs. $60Bn today) via ETFs run by the world's leading asset managers, and Bitcoin supply being constrained," Bernstein said. Bernstein argues that MicroStrategy deserves the premium valuation as it offers investors an "active-leveraged" strategy compared to passive bitcoin ETFs.
Persons: Bitcoin, Bernstein, , Gautam Chhugani, Mahika Sapra, bitcoin, Chhugani, Sapra, MicroStrategy Organizations: Service, BTC
Bitcoin will still reach $150,000 by 2025, Bernstein reaffirmed in a new note. ETF and spot bitcoin demand has remained strong, analysts wrote. "Investors ask us if anything has changed on our $150K Bitcoin price view and if the post-halving price correction has affected our conviction. Second, rule updates from the Financial Accounting Standards Board pertaining to crypto are driving corporate interest in bitcoin, Bernstein said. Advertisement"Overall, healthy Bitcoin demand and continued discipline in the Bitcoin mining cycle, allowing the Bitcoin party to last longer this time.
Persons: Bitcoin, Bernstein, , Gautam Chhugani, Mahika Sapra, Block, Chhugani, Bernstein isn't, bitcoin Organizations: Service, ETF, Financial, outflows, Chartered, ~$ Locations: outflows, bitcoin
The narrative on bitcoin is still bullish, though commentators see more volatility ahead. Bernstein analysts wrote this week that the rally firms up their view that bitcoin is on track to hit $150,000 by mid-2025. Here's what some of the market's top commentators have said about the outlook for the world's most popular cryptocurrency. Related stories"We built bitcoin institutional flows in our estimates to arrive at bitcoin price. Saylor said that following the bitcoin halving in April, dwindling supplies would continue to fuel demand, propelling the price momentum even higher, saying "the natural sellers are the miners."
Persons: Bitcoin, Bernstein, , Kris Marszalek, Gautam Chhugani, Mahika Sapra, Michael Novogratz, Jamie Dimon, He's, Michael Saylor, Saylor Organizations: Service, CNBC, Galaxy, Galaxy Digital, Wednesday, JPMorgan JPMorgan, Australian Financial
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