Bernstein Analysts Review Bitcoin Target, $200,000 and $1 Million to be Main Focus

Bernstein analysts Gautam Chhugani and Mahika Sapra recently revised their price targets for Bitcoin in their latest market report, which also started reporting MicroStrategy. These analysts also pointed out the factors that they believe could contribute to the strong price increase of BTC.

Bitcoin Will Hit $200,000 Then $1 Million

Chhugani and Sapra predicted in the report that BTC will rise to a cycle high of $200,000 in 2025 and that the flagship crypto will reach $1 million in 2033. which was predicted earlier that Bitcoin will reach $150,000 by 2025. However, these analysts have now revised their goals and refer to institutional need with BTC as one of the reasons they believe the top crypto can reach such heights.

Related Reading

The research firm predicts that Spot Bitcoin ETFs will continue to record an incredible demand and that Bitcoin under management could reach $190 billion by 2025, a significant increase from the $60 billion in BTC that financial providers already have under management.

In other words, these analysts expect BTC trading fee succumbing to the forces of supply and demand, it is thought that Bitcoin circulation will decrease significantly as these Spot Bitcoin ETFs continue to accumulate a significant amount of the crypto token in their ETFs. In addition, two Bitcoin halves are scheduled to occur before 2033, and decrease again supply of miners and thereby supporting their basic issue of BTC hit $1 million.

MicroStrategy To Benefit From BTC Growth

These Berstein analysts also began coverage MicroStrategy at a very efficient rate. They predict that the software company’s stock could rise to $2,890 due to BTC exposure. The rise to $2,890 represents about a 95% upside for MicroStrategy stock, which is currently the value about $1,500.

The research firm noted that MicroStrategy is committed to “building the world’s largest Bitcoin company.” This has paid off so far, with Chhugani and Sapra saying that the software company has transformed from “a small software company to a large BTC holding company” as of August 2020 (when it started collecting BTC).

MicroStrategy is already yours 1.1% of the total value of Bitcoin, with assets worth about $14.5 billion. The company’s BTC Holdings is expected to grow in the near future, as it recently did announced plans to offer $500 million of Convertible Senior Notes. Some of the proceeds from the proposed sale will be used to buy more BTC.

Related Reading

Berstein highlighted how the founder of the company Michael Saylor has become synonymous with Bitcoin and that the company’s position as the leading Bitcoin company has helped attract “a lot of capital (both debt and equity) to the working man. Bitcoin earning strategy.” In dollars, Bernstein noted that MicroStrategy’s Bitcoin asset value (NAV) per share “has grown nearly fourfold, outpacing the 2.4x growth in Bitcoin value.”

“We believe MSTR’s long-term convertible debt strategy allows us ample time to capitalize on Bitcoin’s upside, with limited risk of liquidation of its Bitcoin balance sheet.” Chugani and Sapra added.

The featured image was created with Dall.E, a chart from Tradingview.com