New price forecasts for Bitcoin speak of 1 million dollars by 2033. This was stated by Bernstein, a research and brokerage firm, which has initiated coverage of MicroStrategy, the software company that is the largest holder of Bitcoin.
Summary
Bitcoin Price Predictions: Bernstein claims BTC at 1 million dollars by 2033
According to what reported, it seems that the research and brokerage firm, Bernstein, has shared its price prediction for Bitcoin at 1 million dollars by 2033.
Bernstein is also the company that assigned the software company MicroStrategy, the largest holder of Bitcoin, an outperform rating and a price target of 2,890 dollars. MicroStrategy’s long-term convertible debt strategy allows it to benefit from the bull of bitcoin with a limited risk of liquidation of the cryptocurrency on its balance sheet.
In this regard, the analysts of the broker, Gautam Chhugani and Mahika Sapra, spoke about the founder of MicroStrategy, Michael Saylor, as follows:
“Michael Saylor has become synonymous with the bitcoin brand and has positioned MSTR as a leading company in the sector, attracting large-scale capital (both debt and equity) for an active bitcoin acquisition strategy,”
Not only that, the broker continues by stating that MicroStrategy positions itself as an “active bitcoin strategy with leverage compared to passive exchange-traded funds (ETF)”,
Price Predictions for Bitcoin: Bernstein Revises and Sees $200,000 in 2025
The forecast of 1 million dollars for BTC by 2033 is complemented by another one shared by the analysts at Bernstein.
And in fact, it seems that they have stated that BTC could reach a cycle high of 200,000 dollars by 2025.
This second forecast becomes a correction of the previous forecast, according to which the price of BTC would have reached $150,000 as the cycle high by 2025.
Not only that, Bernstein now estimates that bitcoin potrebbe raggiungere i 500.000 dollari entro il 2029.
These long-term price outlook increases for Bitcoin are based on the unprecedented demand for spot exchange-traded funds (ETF) and the fact that the supply of the cryptocurrency is limited.
In this regard, Saylor’s MicroStrategy now owns 1.1% of the global Bitcoin supply, worth approximately 14.5 billion dollars, after transforming from a small software company in the span of four years.
The new 500 million dollar fund to purchase BTC
Just in these days, MicroStrategy, the company founded by Michael Saylor, announced the intention to raise 500 million dollars to buy more Bitcoin.
In practice, the software company intends to launch a private offering of senior convertible bonds, maturing in 2031.
The goal is to raise the sum of 500 million dollars, of which the company has stated it intends to use primarily to purchase additional Bitcoin (BTC).
Last April, MicroStrategy had purchased 122 BTC for 7.8 million dollars, bringing its Bitcoin Wallet to a total of 214,400 BTC.
