Bernstein, an asset management firm with over $750 billion in assets, has increased its Bitcoin price prediction for 2025 from $150,000 to $200,000. The firm projects Bitcoin could reach $1 million by 2033.
Analysts Gautam Chhugani and Mahika Sapra cited the surge in spot Bitcoin ETFs as a major bullish catalyst. Since their debut in January, these ETFs have seen net inflows exceeding $15 billion. The analysts predict the global spot Bitcoin ETF market could account for 7% of BTC’s circulating supply by 2025.
Bernstein also noted that the recent Bitcoin block reward halving, which reduced daily emission from 900 to 450 bitcoins, could drive prices over $200,000 by next year. By 2033, spot Bitcoin ETFs could represent 15% of Bitcoin’s circulating supply, potentially pushing prices over $1 million.
Additionally, Bernstein initiated coverage on MicroStrategy stock with an outperform rating, setting a price target of $2,890 by the end of 2025. MicroStrategy, which holds 214,400 bitcoins, plans to use proceeds from a $700 million convertible notes sale to buy more BTC.
These projections highlight the long-term strategic importance of Bitcoin and its growing integration into traditional financial markets.
