2024

Bitcoin

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In the rapidly evolving cryptocurrency landscape, the current market sentiment might be bearish, but the prediction community is gaining massive attention from investors, traders, and institutions. On June 14, 2024, leading analysts at Bernstein predicted that the value of Bitcoin could hit a massive $1 million by 2033 and reach $200,000 by the end of 2025. Bernstein Bitcoin price prediction for 2033 
Besides this recent prediction, the company earlier predicted that <a href="https://news.todayq.com/brokerage-firm-bernstein-revises-bitcoin-prediction-to-90k/" rel="noopener noreferrer nofollow">Bitcoin would hit $90,000</a> by the end of this year. However, considering MicroStrategy’s recent Bitcoin purchase, Bernstein expects MicroStrategy’s stock price to outperform the overall market, targeting $2,890 in the future. The company’s shares closed at roughly $1,484 on June 13, 2024, according to data from Google.
Following the recent Bitcoin purchase, MicroStrategy holds 214,400 Bitcoins, having begun its acquisition in 2020 when it adopted the cryptocurrency as a reserve asset. Additionally, the company now owns nearly 1.1% of the global Bitcoin supply, worth around $14.5 billion. With this, MicroStrategy is the leading corporate holder of Bitcoin. The company’s founder and chairman, Michael Saylor, is also a prominent figure in the crypto industry. Leading corporate Bitcoin holder 
Unlike many other companies, MicroStrategy has chosen to buy Bitcoin directly rather than investing in spot Bitcoin exchange-traded funds (ETFs). This approach has resulted in a higher Bitcoin per equity share over the past four years, according to Bernstein analysts.
Bernstein’s bullish outlook on Bitcoin is driven by the increasing demand from spot Bitcoin ETFs and the limited supply of the cryptocurrency. The firm also highlights that MicroStrategy’s strategy of using long-term convertible debt allows the company to benefit from Bitcoin’s potential price rise while minimizing the risk of having to sell its holdings.
Besides Bernstein’s Bitcoin prediction, many others have recently made predictions for Bitcoin, such as <a href="https://news.todayq.com/standard-chartered-predicts-btc-might-hit-150k-amid-trump-buzz/" rel="noopener noreferrer nofollow">Standard Chartered</a>. On June 6, 2024, Standard Chartered predicted that Bitcoin could hit $150K by the end of 2024 and $200K by 2025.&nbsp;
Additionally, crypto experts like <a href="https://news.todayq.com/will-bitcoin-regain-70k-heres-what-markus-thielen-says/" rel="noopener noreferrer nofollow">Markus Thielen</a>, the founder of 10X Research, made a statement to his clients: “Our recommendation remains unchanged: stick with the winners (Bitcoin) and avoid others (such as Ethereum).” This bullish outlook for Bitcoin is attracting more investors into the crypto market and ETF market.

Will Bitcoin reach $1 million? Here’s What Bernstein says

Todayq News

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