Bitcoin Predicted to Hit $1 Million by 2033

AllianceBernstein’s Bullish Outlook

Global investment firm AllianceBernstein has raised its price target for Bitcoin to $1 million by 2033. This prediction is based on the following factors:

US Spot Bitcoin ETFs

  • New Bitcoin exchange-traded funds (ETFs) managed by major asset managers have brought in significant investment.
  • Analysts expect Bitcoin ETFs to account for 7% of all Bitcoins in circulation by 2025 and 15% by 2033.

Bitcoin’s Supply Mechanics

  • Bitcoin’s halving events, which reduce the supply of new coins, have historically led to price rallies.
  • The next halving is expected in 2024 and could drive the price to $200,000 by mid-2025.

MicroStrategy’s Bitcoin Strategy

  • MicroStrategy has acquired a significant amount of Bitcoin, making it a notable player in the market.
  • Analysts believe MicroStrategy’s strategy reduces liquidation risk and could lead to its holdings increasing to 1.5% of the Bitcoin supply by 2025.

Outlook for Bitcoin

  • AllianceBernstein predicts Bitcoin will reach $500,000 by 2029 and $1 million by 2033.
  • The firm also initiated coverage on MicroStrategy with an outperform rating and a price target of $2,890 by 2025.