Bernstein forecasts Bitcoin reaching $150,000 by mid-2027 and $300,000 at cycle peak in 2029, citing debasement trade tailwinds.
Macro & Markets ·
Bernstein's research team projects Bitcoin will reach $150,000 by mid-2027 under its base case scenario, with prices climbing further to approximately $300,000 at the cycle peak in 2029. The outlook is framed around what the firm describes as a "debasement trade," reflecting expectations around currency dynamics. However, Bernstein simultaneously cut its Strategy target, adjusting near-term positioning even as longer-dated forecasts remain elevated.
The debasement trade thesis suggests macro conditions—likely tied to fiscal or monetary policy concerns—are creating tailwinds for Bitcoin as a hedge or alternative asset. Bernstein's dual stance reflects a split between tactical targets and multi-year structural conviction. The $150,000 mid-cycle level represents an intermediate waypoint before the firm's 2029 peak forecast.
Details remain sparse on the precise mechanics driving each milestone or the probability assigned to the base case. The rationale for cutting the Strategy target while maintaining bullish longer-term projections is not clarified in available reporting, leaving the near-to-medium term outlook ambiguous relative to the longer-dated thesis.