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Bernstein Raises Bitcoin Price Prediction for 2025 to $200,000
Bernstein, an asset management firm managing over $750 billion in assets, has updated its Bitcoin price prediction. The firm now targets a price of $200,000 for Bitcoin by 2025, up from their previous estimate of $150,000. By 2033, they project Bitcoin could reach an impressive $1 million.
Analysts at Bernstein shared these projections, citing the anticipated rise in spot Bitcoin ETFs as a key factor. In a recent note to clients, they emphasized the bullish impact of these ETFs on the cryptocurrency market.
“We believe that the U.S regulated ETFs were the watershed moment for crypto that brought in structural demand from traditional pools of capital,” stated analysts Gautam Chhugani and Mahika Sapra.
Since their introduction in early January, spot Bitcoin ETFs have seen net inflows exceeding $15 billion. Bernstein’s analysts predict that the global spot Bitcoin ETF market could account for around 7% of BTC’s circulating supply by 2025.
Bitcoin Price to Hit $1 Million by 2033
Bernstein’s analysts also believe that Bitcoin is entering a new bull cycle. They highlighted the recent block reward halving, which reduced daily emission from approximately 900 bitcoins to 450 bitcoins, as a significant factor. This reduction in supply, combined with increasing demand, could drive Bitcoin’s price to over $200,000 by mid-to-end of next year.
Looking further ahead, the analysts expect spot Bitcoin ETFs to account for about 15% of Bitcoin’s circulating supply by 2033. If this scenario plays out, the price of Bitcoin could surge to over $1 million within the next eight years. Chhugani and Sapra see Bitcoin reaching $500,000 by the end of 2029 and over $1 million by 2033.
In addition to their Bitcoin projections, Bernstein has initiated coverage on the MicroStrategy stock with an outperform rating and a price target of $2,890 by the end of 2025. MicroStrategy, an AI-powered cloud analytics firm, currently holds 214,400 bitcoins and has announced a $700 million convertible notes sale aimed at acquiring more BTC.
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