| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
Bitcoin (CRYPTO: BTC) is predicted to reach $1 million by 2033 and hit a cycle-high of $200,000 by 2025, according to a new research report by Bernstein.
What Happened: Bernstein’s optimistic BTC price forecast is driven by increasing demand from spot ETFs and the limited supply of the cryptocurrency.
The firm now projects that Bitcoin could reach $500,000 by 2029, revising its 2025 estimate upward from $150,000 to $200,000.
This forecast underscores the growing institutional interest and the potential for significant price appreciation.
MicroStrategy Analysis
The firm also initiated coverage of MicroStrategy (NASDAQ:MSTR), the largest corporate holder of Bitcoin, giving the company an outperform rating, according to Coindesk.
MicroStrategy, based in Tysons Corner, Virginia, has significantly increased its Bitcoin holdings, now owning about 1.1% of the global supply, valued at approximately $14.5 billion.
The company, originally a small software developer, has transformed over four years into a major player in the cryptocurrency market.
Bernstein’s research highlighted this transformation, noting MicroStrategy’s shift since it began acquiring Bitcoin as a reserve asset in 2020.
Stock Performance And Price Target
Bernstein set a price target of $2,890 for MicroStrategy shares, which closed at around $1,484 on Thursday. The Nasdaq-listed company currently holds 214,400 Bitcoin.
Analysts Gautam Chhugani and Mahika Sapra emphasized the significant role of the company’s founder and chairman, Michael Saylor, stating, "Saylor has become synonymous with brand Bitcoin and has positioned MSTR as a leading Bitcoin company, attracting at-scale capital (both debt and equity) for an active Bitcoin acquisition strategy."
The report contrasted MicroStrategy's active leveraged Bitcoin strategy with passive spot exchange-traded funds (ETFs), highlighting the higher Bitcoin per equity share achieved through MicroStrategy’s approach over the past four years.
This active strategy has yielded substantial returns, setting MicroStrategy apart from other Bitcoin investment vehicles.
MicroStrategy’s Financial Strategy And Future Plans
MicroStrategy’s long-term convertible debt strategy allows the company to capitalize on potential Bitcoin price increases with minimal risk of having to liquidate its holdings.
This strategy provides the company with a buffer to benefit from the cryptocurrency’s upside.
Recently, MicroStrategy proposed a $500 million debt sale of convertible notes, aiming to further expand its Bitcoin holdings.
Looking Ahead: Benzinga’s Future Of Digital Assets Event
As the cryptocurrency market continues to evolve, stakeholders are keenly observing these developments. Insights into these market trends and strategies will be explored at Benzinga’s Future of Digital Assets event on Nov. 19.
Read Next: Gary Gensler: Ethereum Spot ETFs Could Start Trading By The End Of Summer
Image: Shutterstock
