Скачать или смотреть Bernstein Analysts Predict Bitcoin Could Reach $1 Million by 2023

Ruholamin Haqshanas

Last updated:

June 14, 2024 at 15:22 GMT+3

| 2 min read

Bitcoin has the potential to reach $1 million by 2033, with a projected cycle-high of $200,000 by 2025, according to analysts at Bernstein.

The prediction comes as Bernstein initiated coverage of MicroStrategy, a software developer and the largest corporate holder of Bitcoin.

The research report assigned an outperform rating to MicroStrategy, which currently possesses 1.1% of the global supply of the leading cryptocurrency, equivalent to approximately $14.5 billion.

MicroStrategy Becomes Major Player in Crypto Space.

In just four years, MicroStrategy has transformed itself from a small software company to a major player in the crypto space.

The company’s founder and chairman, Michael Saylor, has played a pivotal role in positioning MicroStrategy as a prominent Bitcoin-focused firm.

Saylor’s leadership has attracted significant capital, both debt and equity, enabling the company to implement an active Bitcoin acquisition strategy.

MicroStrategy currently holds 214,400 Bitcoin, which it began accumulating in 2020 as a reserve asset.

Bernstein initiated coverage of MicroStrategy with a $2,890 price target, while the company’s shares closed at around $1,484 on the Nasdaq exchange.

The analysts, Gautam Chhugani and Mahika Sapra, highlighted MicroStrategy’s active leveraged Bitcoin strategy, which differentiates it from passive spot exchange-traded funds (ETFs).

Over the past four years, MicroStrategy’s active approach has resulted in a higher amount of Bitcoin per equity share.

Bernstein’s price forecast for Bitcoin is driven by the unprecedented demand from spot ETFs and the limited supply of the cryptocurrency.

The analysts now estimate that Bitcoin could potentially reach $500,000 by 2029, with the 2025 estimate revised from $150,000.

MicroStrategy’s long-term convertible debt strategy allows the company to capitalize on the potential upside of Bitcoin while minimizing liquidation risk associated with the cryptocurrency on its balance sheet.

In a recent development, MicroStrategy proposed a $500 million debt sale of convertible notes to further bolster its Bitcoin holdings.

This move showcases the company’s commitment to expanding its Bitcoin portfolio and leveraging its position in the crypto market.

Corporate Bitcoin Holders Start to Reap...

https://cryptonews.com/news/bernstein...

#crypto #bitcoin #ethereum #cryptocurrency #news #blockchain #litecoin #cryptonews #cryptonewstoday #cryptoworld #cryptoworlddaily #bernstein #bernsteinnews #bernsteinnewstoday #bitcoin #bitcoinnews #cryptonewsalerts
***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT!

This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research.

bitcoin, blockchain, crypto, cryptocurrency, altcoin, investment, ethereum, bitcoin crash, xrp, cardano, ripple