Bernstein: Bitcoin will reach $200,000 by 2025! One million US dollars in 10 years is not a dream

This site (120Btc.coM): Wall Street investment bank Bernstein released a rating report on software developer MicroStrategy yesterday (13th). It means that MicroStrategy currently owns 1.1% of the total supply of Bitcoin (as of April 26, MicroStrategy holds 214,400 Bitcoins, which is more than 14.3 billion US dollars based on current value). Taking into account the future development trend of Bitcoin, give MicroStrategy received an outperform rating and raised its price target to $2,890.

MicroStrategy’s stock price closed at $1,483.88 yesterday, nearly doubling the potential increase from the target stock price given by Bernstein. Bernstein analysts Gautam Chhugani and Mahika said: The company’s founder and chairman Michael Saylor has become synonymous with the Bitcoin brand and has positioned MSTR as a leading Bitcoin company to attract large-scale capital (debt and equity) to implement aggressive Bitcoin acquisition strategy.

Will reach a cycle high of $200,000 in 2025

The research report also predicts that due to the huge demand for Bitcoin spot ETFs and the limited supply of Bitcoin (21 million), Bitcoin is expected to reach a cycle high of $200,000 in 2025.

Bernstein further estimated that the price of Bitcoin may climb to $500,000 by 2029, and may reach $1 million by 2033.

MicroStrategy proposes selling $500 million in convertible notes to increase Bitcoin reserves

Separately, the report adds, MicroStrategy’s long-term convertible debt strategy means it has enough time to potentially recover from benefited from the rise in Bitcoin. Previously, MicroStrategy announced yesterday that it plans to issue convertible senior debt worth US$500 million to compliant institutional investors and use the funds raised to purchase more Bitcoins: MicroStrategy intends to use the sale of these bonds The net proceeds will be used to purchase more Bitcoins and will also be used for the company’s general purposes.

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