According to the latest forecasts by Bernstein, a prestigious Wall Street firm, Bitcoin could reach 1 million dollars by 2033, according to a recent report.
In particular, the report highlights an unprecedented demand and supply constraints as key factors for the potential exponential growth of the price of Bitcoin. Let’s see all the details below.
Summary
Bold predictions for Bitcoin from Bernstein
As anticipated, the renowned company of Wall Street, Bernstein, has released a long-term forecast for Bitcoin, indicating that the price could reach 1 million dollars by 2033.
In a new report initiating coverage of MicroStrategy by Michael Saylor, Bernstein analysts have raised their price target for Bitcoin to $200,000 by the end of 2025, up from the previous forecast of $150,000.
Bernstein has always been optimistic about the prospects of Bitcoin, but this prediction of 1 million dollars by 2033 is one of the most ambitious among institutional ones.
The analysts base their thesis on an unprecedented demand for ETF spot su Bitcoin and on a limited future supply.
The Bernstein report also highlighted the following:
“Michael Saylor has become synonymous with Bitcoin, positioning MicroStrategy as a leading company in the sector, attracting large-scale capital (both debt and equity) for an active Bitcoin acquisition strategy. MicroStrategy stands out as an active and leveraged Bitcoin strategy compared to passive spot ETFs.”
The report thus observes that in the last four years the company’s active strategy has generated a higher return in Bitcoin per share. Bernstein has set a price target of 2,890 dollars for MicroStrategy shares, almost double the current price.
Main causes of Bitcoin increases
This bold outlook for Bitcoin comes as institutions get closer and closer to this criptovaluta, with large asset managers like BlackRock and Fidelity offering investment products in BTC.
Bernstein has cited the inflows into these regulated vehicles as a driving force for the future exponential increases in the price of Bitcoin.
The analysts believe that MicroStrategy maintains its leading advantage as the main publicly traded Bitcoin operator in the world.
With the adoption of BTC still in its early stages, companies like MicroStrategy have ample opportunities to expand their holdings in Bitcoin in the years to come.
Bitcoin drops to $66,304 after the Federal Reserve’s decision
Bitcoin (BTC), the main cryptocurrency, has shown remarkable volatility this week, dropping by over 3% in the last 24 hours to reach $66,304 after a brief recovery to $68,000 on Thursday.
This decline occurred after the decision of the Federal Reserve to maintain interest rates between 5.25% and 5.50%, negatively affecting the performance of BTC on the market.
At the beginning of the week, Bitcoin had almost reached $72,000, but it failed to maintain its momentum, dropping quickly.
The cryptocurrency has also struggled to surpass its peak of $73,798 recorded in March, despite strong inflows into the US exchange-traded funds (ETF).
On June 13, gli ETF su Bitcoin hanno registrato deflussi significativi, con 226,21 milioni di dollari ritirati in un solo giorno.
The GBTC of Grayscale Investments saw an outflow of 62 million dollars, while the FBTC of Fidelity suffered an outflow of 106 million dollars, its second since the beginning.
However, the Bitcoin ETF by BlackRock recorded an inflow of 18 million dollars, partially counterbalancing the general trend of withdrawals. Currently, IBIT manages 17.63 billion dollars in Bitcoin ETFs.
At the moment, Bitcoin is being traded at around $67,045 with a daily trading volume of about 26.70 billion dollars. The flash crash on June 14 pushed Bitcoin below the ascending parallel channel, compromising key support levels.
