Bernstein forecasts Bitcoin reaching 1 million by 2033
Bernstein, a prominent asset management firm overseeing a staggering $750 billion in assets, has decided to up the ante on their Bitcoin price forecast, revising their target for 2025 from $150,000 to $200,000. Their prediction for 2033 is an eye-popping $1 million.
The firm’s analysts unveiled their price outlook for the leading cryptocurrency on Friday. In a message to clients, the research firm highlighted their belief that the rise of spot Bitcoin ETFs signals a positive development.
“We view the approval of U.S regulated ETFs as a significant turning point for the crypto market, attracting institutional investors and traditional sources of capital,” stated Bernstein’s Gautam Chhugani and Mahika Sapra.
Since their launch in early January, spot Bitcoin ETFs have seen net inflows surpassing $15 billion. The analysts foresee the global spot Bitcoin ETF market expanding to make up approximately 7% of Bitcoin’s circulating supply by 2025.
BTC price set to soar to $1 million by 2033
In addition to the spot ETF market, Bernstein analysts have indicated that Bitcoin is entering a new bullish phase.
They pointed out the recent block reward halving, which reduced daily Bitcoin emission from about 900 to 450 bitcoins, as another contributing factor. They suggested that a surge in demand coupled with supply constraints could drive the BTC price beyond $200,000 by the middle to end of the following year.
The analysts also predict that spot Bitcoin ETFs will represent around 15% of the circulating supply of the “digital gold” by 2033. Should a price rally relative to the marginal cost of production occur, Bitcoin could skyrocket to over $1 million within the next eight years.
Gautam Chhugani and Mahika Sapra foresee Bitcoin hitting $500,000 by the end of 2029 and exceeding $1 million by 2033.
Bernstein has also started coverage on MicroStrategy stock, awarding it an outperform rating and a price target of $2,890 by the end of 2025.
MicroStrategy (MSTR) is an innovative cloud analytics company powered by AI, which currently holds an impressive 214,400 bitcoins. The company recently announced a $700 million convertible notes sale, with the proceeds earmarked for further Bitcoin purchases.
