Bernstein Forecasts Bitcoin to Reach $300,000 by 2029

Bernstein analysts forecast that Bitcoin could reach $300,000 per token by the end of 2029, with a projected new all-time high of $150,000 by mid-2027. This outlook follows a recent price surge that saw the asset top $80,000 for the first time since May.

The firm attributes this growth to a revival of the debasement trade, as investors rotate into scarce assets to hedge against persistent inflation and a weakening U.S. dollar. This trend is further fueled by record U.S. national debt exceeding $40 trillion.

Bernstein suggests these conditions could benefit Strategy Inc., the world's largest corporate holder of Bitcoin, which owns approximately 4% of the total supply. While the firm lowered its 12-month price target for Strategy Inc. to $350 from $450, it maintains an outperform rating and suggests the company may resume aggressive Bitcoin purchases if the asset's strength continues.