At a Glance
Bernstein sees Bitcoin reaching $150,000 by mid-2027
Base case: $300,000 by the end of 2029
Bull case: Bitcoin could hit $500,000 in 2029
Longer-term forecast remains around $1 million by the end of 2033
Bitcoin has gained 25% in 10 days
A fresh Bitcoin rally and shifting bond-market dynamics are giving Wall Street bulls more reason to raise their long-term price targets.
Bitcoin is back above $80,000, and Bernstein analyst Gautam Chhugani sees room for a much bigger move. His latest outlook puts $500,000 within reach in 2029 if institutional investors accelerate their buying.
KEY DETAILS
Bitcoin broke above $80,000 early Tuesday, its first move through that level in 15 weeks. The cryptocurrency is currently trading around $80,000 after gaining 25% over the past 10 days.
The latest rally has been closely tied to the bond market. The U.S. Treasury last week said it would double the maximum size of its long-term bond buybacks from $2 billion to $4 billion per session, targeting 10-, 20- and 30-year Treasury sectors.
Treasury Secretary Scott Bessent has said he has a “big toolkit” to tackle rising yields.
Chhugani expects Bitcoin to reach $150,000 by mid-2027 and $300,000 by the end of 2029 in his base case. If institutional capital floods into Bitcoin, he sees a possible $500,000 peak in 2029 and a rapid recovery toward $200,000 by mid-2027. His longer-term forecast remains around $1 million by the end of 2033.
WHY IT MATTERS
Chhugani argues that rising government debt, higher borrowing costs, and efforts to manage bond markets could eventually favor scarce assets such as Bitcoin.
For traders, the key levels to watch are $80,000, the path toward $150,000, and whether institutional demand can keep the rally moving.
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Source: Yahoo Finance
Time: 4:00 PM EEST
