Bernstein Predicts Bitcoin to Hit $1 Million by 2033, Highlights MicroStrategy's Leading Role

• Bernstein projects Bitcoin could reach $1 million by 2033 and a cycle-high of $200,000 by 2025, driven by rising demand from spot Bitcoin ETFs.
• Bernstein highlights Michael Saylor's MicroStrategy as a leading Bitcoin company, now owning 1.1% of the global Bitcoin supply worth $14.5 billion.

Bitcoin maximalists are a whole different breed and there’s no denying that they do play a major role in how Bitcoin is perceived by the world. And one of the key activities of these maximalists is making practical Bitcoin predictions. 

Research and brokerage firm Bernstein, in a new report initiating coverage of Michael Saylor's MicroStrategy, has made significant predictions. Bernstein has projected that Bitcoin could reach $1 million by 2033 and hit a cycle-high of $200,000 by 2025.

Bernstein has long held an optimistic view on Bitcoin, but their recent $1 million forecast for 2033 stands out as one of the highest institutional projections to date. 

Analysts Gautam Chhugani and Mahika Sapra attribute this prediction to the anticipated surge in demand from spot Bitcoin exchange-traded funds (ETFs) managed by top asset managers like BlackRock, Fidelity, and Franklin Templeton. 

They expect these funds to grow to about $190 billion in assets under management, up from the current $60 billion, as noted in their client report.

“We believe that the U.S regulated ETFs were the watershed moment for crypto that brought in structural demand from traditional pools of capital,” the analysts wrote. “Around $15 billion of net new flows have been brought in by the ETFs combined. We expect Bitcoin ETFs to be equivalent to ~7% of bitcoin in circulation by 2025 and ~15% of bitcoin supply by 2033.”

According to Bernstein's report, Michael Saylor has become synonymous with Bitcoin, positioning MicroStrategy (MSTR) as a leading Bitcoin company. This active Bitcoin acquisition strategy has attracted substantial capital and has allowed the company to achieve a higher Bitcoin per equity share compared to passive ETFs. 

Over the past four years, MicroStrategy has transformed from a small software company to owning 1.1% of the global Bitcoin supply, worth about $14.5 billion. Analysts believe MicroStrategy will maintain its first-mover advantage as a leading listed Bitcoin player, with significant growth potential as BTC adoption continues to rise. 

Edited by Harshajit Sarmah