Leading global financial analysis firm Bernstein made waves this week by strongly reaffirming its ambitious $150,000 price target for Bitcoin (BTC). The firm’s analysts stated that their conviction stems from what they categorize as the ‘weakest bitcoin bear case in history,’ arguing that structural changes in the market have permanently reduced downside risk.
The core of Bernstein’s bullish outlook rests squarely on the success of the U.S. spot Bitcoin Exchange-Traded Funds (ETFs). The influx of institutional capital facilitated by these products, coupled with constrained supply post-halving, suggests that demand pressure will far outweigh selling pressure over the medium to long term. Bernstein views Bitcoin’s current status not as a speculative retail asset, but as a mandatory strategic allocation for major wealth managers.
Further reinforcing the theme of aggressive corporate accumulation, MicroStrategy, the largest corporate holder of Bitcoin, announced its latest purchase. The firm acquired an additional 1,142 BTC, using proceeds from its recent convertible note offering. This acquisition continues MicroStrategy’s consistent strategy of utilizing capital market tools to expand its massive BTC treasury, regardless of short-term market fluctuations, signifying unwavering corporate belief in Bitcoin’s future value. This ongoing corporate accumulation, paired with institutional demand via ETFs, provides powerful validation for Bernstein’s highly optimistic forecast.
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