Renewed flagship crypto forecast comes as the Bernstein initiates coverage of software developer MicroStrategy (NASDAQ: MSTR) stock, the largest corporate holder of Bitcoin, with an “outperform” rating and a price target of $2,890.
The price of Bitcoin (BTC) is expected to reach $1 million by 2033 and could hit a cycle-high of $200,000 by 2025, according to popular investment firm Bernstein.
“We derive the long-term market premium based on a probability-weighted scenario based on our Bitcoin price model for 2029/2033. Our base case scenario believes Bitcoin would appreciate $200,000 by 2025, $500,000 by 2029, and $1 million by 2033.”
Demand from Bitcoin ETFs will drive the surge in BTC price
Bernstein analysts Gautam Chhugani and Mahika Sapra attribute this bullish outlook to anticipated unprecedented demand driven by spot Bitcoin exchange-traded funds (ETFs) managed by major asset managers like BlackRock, Fidelity, and Franklin Templeton.
They project that asset
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