Bernstein maintains its $150,000 BTC price target for end of 2026.
Macro & Markets ·
Bernstein analysts have outlined a multi-stage Bitcoin price forecast spanning the next decade. Under their base case, the cryptocurrency is expected to reach roughly $125,000 by end-2026, followed by a new peak near $150,000 by mid-2027, before climbing to around $300,000 at the cycle peak in 2029. The firm also maintains a long-term target of approximately $1 million by end-2033.
The bank's scenario analysis incorporates currency debasement as a key variable. Should debasement accelerate and drive institutional inflows, Bitcoin could move faster—reaching $200,000 by mid-2027 and $500,000 by 2029 under that upside case. The revised forecast reflects Bernstein's updated view of the Bitcoin cycle, though the firm has simultaneously tightened its outlook on Strategy, a related instrument.
Bernstein cut Strategy's price target from $450 to $350 while maintaining an Outperform rating, citing accelerated equity dilution alongside the revised Bitcoin cycle outlook. The divergence between Bitcoin's bullish targets and Strategy's reduced valuation signals the analysts see structural pressures on that specific vehicle independent of Bitcoin's own trajectory.