Bernstein "Bitcoin, Expected To Reach 1 Million Dollars In 2033"

A projection emerged that Bitcoin will reach 1 million dollars by 2033. According to The Block, cryptocurrency research and brokerage firm Bernstein analyzed that "currently, the competition for Bitcoin accumulation among companies is intensifying, with about 80 companies holding 700,000 BTC." This accounts for about 3.4% of the total Bitcoin supply.

Bernstein explained that the combination of ETF and corporate holdings amounts to about 9% of the total supply. This is a nearly sevenfold increase since the launch of the US Bitcoin spot ETF in January last year. It also assessed that the Bitcoin balance in exchanges decreased from 16% in 2023 to the current 13%, reducing selling pressure.

In particular, the competition for Bitcoin accumulation among major countries, including the US, has not yet been fully reflected in the price, it emphasized. Bernstein predicted that Bitcoin will reach 200,000 dollars at the end of this year, 500,000 dollars in 2029, and 1 million dollars in 2033.