{"id":624805,"date":"2024-06-15T23:00:35","date_gmt":"2024-06-15T23:00:35","guid":{"rendered":"https:\/\/uniquehot.com\/?p=624805"},"modified":"2024-06-15T09:48:22","modified_gmt":"2024-06-15T09:48:22","slug":"bernstein-bitcoin-target-200000","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin\/bernstein-bitcoin-target-200000\/","title":{"rendered":"Bernstein Analysts Revise Bitcoin Target, $200,000 And $1 Million Become Main Focus"},"content":{"rendered":"

Bernstein analysts<\/span><\/a> Gautam Chhugani and Mahika Sapra recently revised their price targets for Bitcoin in their latest market report, which also initiated coverage on <\/span>MicroStrategy<\/span><\/a>. These analysts also outlined factors that they believe could contribute to BTC’s exponential price surge.\u00a0<\/span><\/p>\n

Bitcoin To Hit $200,000 And Then $1 Million<\/h2>\n

Chhugani and Sapra predicted in the report that BTC\u00a0will rise to a cycle high of $200,000 by 2025 and that the flagship crypto will reach $1 million by 2033. Bernstein had <\/span>previously predicted<\/span><\/a> that Bitcoin would reach $150,000 by 2025. However, these analysts have now revised their targets and alluded to the <\/span>institutional demand<\/span><\/a> for BTC as one of the reasons they believe the flagship crypto can reach such heights.<\/span><\/p>\n

Related Reading: Crypto Analyst Lists The Cardano Developments That Will Drive ADA Price To $3 In 2024<\/a><\/div>\n

The research firm predicts that the <\/span>Spot Bitcoin ETFs<\/span><\/a> will continue to record impressive demand and that the Bitcoin under management could reach $190 billion by 2025, a significant increase from the $60 billion in BTC that funds issuers already have under management.\u00a0<\/span><\/p>\n

In other words, these analysts expect <\/span>BTC\u2019s price<\/span><\/a> to succumb to the supply and demand dynamics, considering that the Bitcoin in circulation is bound to drastically reduce as these Spot Bitcoin ETFs continue to accumulate a significant amount of the crypto token for their respective ETFs. Moreover, two <\/span>Bitcoin halvings<\/span><\/a> are set to occur before 2033, further reducing <\/span>miners\u2019 supply<\/span><\/a> and thereby supporting their base case of <\/span>BTC hitting $1 million<\/span><\/a>.\u00a0<\/span><\/p>\n

MicroStrategy To Benefit From BTC’s Growth<\/h2>\n

These Berstein analysts also initiated coverage on <\/span>MicroStrategy<\/span><\/a> with an outperform rating. They predict that the software company\u2019s stock can rise to $2,890 thanks to its BTC exposure. A rise to $2,890 represents about a 95% increase for MicroStrategy\u2019s stock, which is <\/span>currently valued<\/span><\/a> at around $1,500.\u00a0<\/span><\/p>\n

The research firm noted that MicroStrategy has committed itself to \u201cbuilding the world\u2019s largest Bitcoin company.\u201d This has already paid off so far, with Chhugani and Sapra stating that the software company has transformed from a \u201csmall software company to the largest BTC holding company\u201d since August 2020 (when it started accumulating BTC).\u00a0<\/span><\/p>\n

MicroStrategy already owns <\/span>1.1% of Bitcoin\u2019s total supply<\/span><\/a>, with holdings worth around $14.5 billion. The company\u2019s BTC holdings are expected to increase soon enough, as they recently <\/span>announced<\/span><\/a> plans to offer $500 million of Convertible Senior Notes. Some of the proceeds from the proposed sale will be used to buy additional BTC.\u00a0<\/span><\/p>\n

Related Reading: Ethereum Withdrawals From Coinbase Top $1.2 Billion, What\u2019s Going On?<\/a><\/div>\n

Berstein highlighted how the company\u2019s co-founder <\/span>Michael Saylor<\/span><\/a> has become synonymous with the Bitcoin brand and that the company\u2019s position as the leading Bitcoin company has helped attract \u201cat scale capital (both debt and equity) for an active <\/span>Bitcoin acquisition strategy<\/span><\/a>.\u201d In dollar terms, Bernstein noted that MicroStrategy\u2019s Bitcoin net asset value (NAV) per share \u201chas grown nearly fourfold, surpassing the 2.4x growth in Bitcoin\u2019s spot price.\u201d<\/span><\/p>\n

\u201cWe believe MSTR\u2019s long term convertible debt strategy allows it enough time to gain from Bitcoin upside, with limited liquidation risk to its Bitcoin on balance sheet.\u201d Chhugani and Sapra added.\u00a0<\/span><\/p>\n

\"Bitcoin
BTC price falls to $66,000 | Source: BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Bernstein analysts Gautam Chhugani and Mahika Sapra recently revised their price targets for Bitcoin in their latest market report, which also initiated coverage on MicroStrategy. These analysts also outlined factors that they believe could contribute to BTC’s exponential price surge.\u00a0 Bitcoin To Hit $200,000 And Then $1 Million Chhugani and Sapra predicted in the report that BTC\u00a0will rise to a cycle high of $200,000 by 2025 and that the flagship crypto will reach $1 million by 2033. Bernstein had previously predicted that Bitcoin would reach $150,000 by 2025. However, these analysts have now revised their targets and alluded to the institutional demand for BTC as one of the reasons they believe the flagship crypto can reach such heights. Related Reading: Crypto Analyst Lists The Cardano Developments That Will Drive ADA Price To $3 In 2024 The research firm predicts that the Spot Bitcoin ETFs will continue to record impressive demand and that the Bitcoin under management could reach $190 billion by 2025, a significant increase from the $60 billion in BTC that funds issuers already have under management.\u00a0 In other words, these analysts expect BTC\u2019s price to succumb to the supply and demand dynamics, considering that the Bitcoin in circulation is bound to drastically reduce as these Spot Bitcoin ETFs continue to accumulate a significant amount of the crypto token for their respective ETFs. Moreover, two Bitcoin halvings are set to occur before 2033, further reducing miners\u2019 supply and thereby supporting their base case of BTC hitting $1 million.\u00a0 MicroStrategy To Benefit From BTC’s Growth These Berstein analysts also initiated coverage on MicroStrategy with an outperform rating. They predict that the software company\u2019s stock can rise to $2,890 thanks to its BTC exposure. A rise to $2,890 represents about a 95% increase for MicroStrategy\u2019s stock, which is currently valued at around $1,500.\u00a0 The research firm noted that MicroStrategy has committed itself to \u201cbuilding the world\u2019s largest Bitcoin company.\u201d This has already paid off so far, with Chhugani and Sapra stating that the software company has transformed from a \u201csmall software company to the largest BTC holding company\u201d since August 2020 (when it started accumulating BTC).\u00a0 MicroStrategy already owns 1.1% of Bitcoin\u2019s total supply, with holdings worth around $14.5 billion. The company\u2019s BTC holdings are expected to increase soon enough, as they recently announced plans to offer $500 million of Convertible Senior Notes. Some of the proceeds from the proposed sale will be used to buy additional BTC.\u00a0 Related Reading: Ethereum Withdrawals From Coinbase Top $1.2 Billion, What\u2019s Going On? Berstein highlighted how the company\u2019s co-founder Michael Saylor has become synonymous with the Bitcoin brand and that the company\u2019s position as the leading Bitcoin company has helped attract \u201cat scale capital (both debt and equity) for an active Bitcoin acquisition strategy.\u201d In dollar terms, Bernstein noted that MicroStrategy\u2019s Bitcoin net asset value (NAV) per share \u201chas grown nearly fourfold, surpassing the 2.4x growth in Bitcoin\u2019s spot price.\u201d \u201cWe believe MSTR\u2019s long term convertible debt strategy allows it enough time to gain from Bitcoin upside, with limited liquidation risk to its Bitcoin on balance sheet.\u201d Chhugani and Sapra added.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":624826,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[167,428,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-624805","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\nBernstein Analysts Revise Bitcoin Target, $200,000 And $1 Million Become Main Focus<\/title>\n<meta name=\"description\" content=\"Bernstein analysts Gautam Chhugani and Mahika Sapra recently revised their price targets for Bitcoin in their latest market report.\" \/>\n<meta name=\"robots\" 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bernstein Analysts Revise Bitcoin Target, $200,000 And $1 Million Become Main Focus","url":"http:\/\/uniquehot.com\/news\/bitcoin\/bernstein-bitcoin-target-200000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin\/bernstein-bitcoin-target-200000\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/Bitcoin_3669e3.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/Bitcoin_3669e3.jpeg?fit=1792%2C1024"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["analyst","bitcoin","bitcoin news","bitcoin price","btc","btc news","btc price","btcusd","btcusdt","crypto","crypto analyst","crypto news"],"dateCreated":"2024-06-15T23:00:35Z","datePublished":"2024-06-15T23:00:35Z","dateModified":"2024-06-15T23:00:35Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bernstein Analysts Revise Bitcoin Target, $200,000 And $1 Million Become Main Focus\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin\\\/bernstein-bitcoin-target-200000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin\\\/bernstein-bitcoin-target-200000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/Bitcoin_3669e3.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/Bitcoin_3669e3.jpeg?fit=1792%2C1024\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"analyst\",\"bitcoin\",\"bitcoin news\",\"bitcoin price\",\"btc\",\"btc news\",\"btc price\",\"btcusd\",\"btcusdt\",\"crypto\",\"crypto analyst\",\"crypto news\"],\"dateCreated\":\"2024-06-15T23:00:35Z\",\"datePublished\":\"2024-06-15T23:00:35Z\",\"dateModified\":\"2024-06-15T23:00:35Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/Bitcoin_3669e3.jpeg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/624805","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=624805"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/624805\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/624826"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=624805"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=624805"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=624805"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}