Bernstein Sees Bitcoin Hitting $300,000 by 2029

Wall Street investment firm Bernstein has increased its price target for Bitcoin to $150,000 by mid-2027 and $300,000 by the end of 2029. The prediction is based on several catalysts, including the 'debasement trade', where investors are buying Bitcoin as a hedge against a weakening dollar.

The firm notes that Bitcoin has historically behaved similarly to gold, making it an attractive option for those looking to protect their assets from inflation. Additionally, regulatory developments, such as the Digital Asset Market Clarity Act, could further boost Bitcoin's value.

Bitcoin's growth rate over the past decade has been impressive, with a compound annual growth rate (CAGR) of 33%. Bernstein believes that if Bitcoin returns to its $100,000 price level by the start of 2027, it can reach its predicted targets with moderate growth rates.