Bernstein Predicts Bitcoin to Hit $150,000 by Mid-2027
According to a prediction from Wall Street brokerage Bernstein, Bitcoin may hit $150,000 by mid-2027 and could reach $300,000 by 2029. In a note dated August 26, analysts, headed by Gautam Chhugani, project that Bitcoin will recover to $125,000 by late 2026. This forecast considers Bitcoin's historical market patterns and broader economic issues, such as inflation and government debt. Bernstein highlighted that 59% of Bitcoin's supply has remained inactive for over a year, reflecting holders' readiness to weather market fluctuations. The firm believes that increased institutional adoption, alongside U.S.-listed spot Bitcoin ETFs, will drive the next cycle. Additionally, Bernstein adjusted its price target for Strategy from $450 to $350, while Bitcoin was trading around $78,796 on August 29.
Key facts
- Bernstein forecasts Bitcoin will reach $150,000 by mid-2027 and $300,000 in 2029.
- The firm's previous projection of $1 million by end of 2033 remains intact.
- Analysts led by Gautam Chhugani issued the forecast in an Aug. 26 client note.
- U.S. government debt has reached roughly $40 trillion.
- Bitcoin's supply is capped at 21 million coins.
- U.S.-domiciled digital-asset ETFs recorded approximately $2.36 billion in net inflows in one recent week.
- Around 59% of Bitcoin's supply had not moved during the previous 12 months.
- Strategy reduced its price target from $450 to $350 and holds 840,447 BTC.
- Bitcoin traded near $78,796 on Aug. 29.
Entities
Institutions
- Bernstein
- CoinShares
- Strategy
- NFT Plazas
- CoinGlass
- CoinMarketCap
- Standard Chartered
Locations
- United States
Sources
- NFT Plazas —
- NFT Plazas —