Bernstein Bank Projects Bitcoin Will Reach $300,000 by 2029
Wall Street's Bernstein Bank predicts that Bitcoin will reach $300,000 by the end of 2029, based on its historical four-year market cycle. It also anticipates that the cryptocurrency will recover to a new all-time high of $150,000 by mid-2027. Analyst Gautam Chhugani indicated that, following the price versus marginal cost framework, the next market peak will be $300,000 in 2029. Bernstein highlights that Bitcoin is positioned as a safe haven against potential monetary depreciation in a context of unprecedented sovereign debt levels. The firm warns that rising yields create a vicious cycle that expands the fiscal deficit and forces new debt issuances. In this scenario, governments may opt for monetary depreciation, increasing interest in scarce assets like Bitcoin. Bernstein believes that Bitcoin is well-positioned as the primary hard asset in this strategy. Furthermore, 60% of Bitcoin remains in the hands of rigid-profile investors who can tolerate declines of over 50% without selling. These factors could support Bitcoin in future market cycles and contribute to its eventual rise towards $300,000 in 2029.
-- Price
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