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