Crypto experts Gautam Chhugani and Mahika Sapra from Bernstein computing their latest forecasts have pushed the boundaries of their earlier predictions. Having adjusted their price targets, they anticipate Bitcoin soaring to staggering figures – first a conservative $200,000, but eventually, an astronomical $1 million. A heartening change in their predictions from the previous $150,000 by 2025. The underpinning cause, they note, is the significant institutional appetite for Bitcoin that is expected to propel the flagship currency to such breath-taking heights.
This robust demand isn’t merely theoretical. These maverick analysts predict that Spot Bitcoin ETFs, which already manage funds estimated around an impressive $60 billion in Bitcoin, will witness their figures surpassing the $190 billion mark by 2025. A reflection of the demand will be in the decreasing supply for Bitcoin as Spot Bitcoin ETFs continue their diligent accumulation of the token. Chhugani and Sapra further underscore the significant role that the impending Bitcoin halvings, slated before 2033, will play. By denting the miners’ provision, the halvings are likely to throw their weight behind the fundamental premise of Bitcoin finally hitting the $1 million milestone.
Turning their attention to MicroStrategy, the analysts’ viewpoint isn’t less optimistic. Having initiated the coverage of MicroStrategy with an outperform rating, a surge of the software giant’s stock to $2,890 is expected, all thanks to the company’s dynamic Bitcoin exposure. This would equate to a 95% increase from its current status at around $1,500.
MicroStrategy, the company that pledged itself in the mission to turn into the world’s premier Bitcoin company since August 2020, has clearly reaped rich rewards from its strategic focus. Bitcoin holdings which currently constitute 1.1% of the currency’s total supply have metamorphosed this once small software firm into the leading BTC holding company. Their existing $14.5 billion in Bitcoin holdings are predicted to swell even more, particularly after their recent announcement of a $500 million offering of Convertible Senior Notes, a substantial part of which is earmarked to fuel the purchase of more BTC.
Berstein’s leading analysts underlined the instrumental role company co-founder Michael Saylor has played in the Bitcoin realm. His association with the brand has been pivotal in attracting substantial capital, driving a robust Bitcoin acquisition strategy that has more than tripled the company’s Bitcoin net asset value (NAV) per share as opposed to Bitcoin’s spot price.
As Chhugani and Sapra highlighted, MicroStrategy’s unique long-term convertible debt strategy provides adequate leeway to leverage the Bitcoin upswing, while simultaneously safeguarding its Bitcoin balance sheet from the threat of liquidation.
In the midst of all these upheavals and shifts, Bitcoin price suffered a dip, stooping to $66,000, yet the faith in it continues unabated. History has shown us repeatedly that Bitcoin has a knack for bouncing back with greater strength, making Chhugani and Sapra’s prediction plausible. Without a doubt, the future of Bitcoin seems to hold more excitement and developments in its folds.
