Bernstein Sees Bitcoin Hitting $300,000 by 2029 Amid Rising Institutional Adoption

Wall Street investment firm Bernstein has upped its price target for Bitcoin to $150,000 by mid-2027 and $300,000 by the end of 2029. In a more optimistic scenario, the price could soar as high as $500,000. The firm points to several catalysts that may propel Bitcoin higher, including the debasement trade, where investors are looking for non-inflationary assets like Bitcoin to hedge against a weakening dollar.

The Digital Asset Market Clarity Act, which is expected to pass later this year, will make it easier for both retail and institutional investors to buy and hold Bitcoin. Additionally, the pace of institutional adoption of Bitcoin is rising, with Wall Street firms launching new investment products and corporations adding Bitcoin to their balance sheets.

While a price target of $300,000 may seem high, Bernstein notes that Bitcoin has consistently grown at a compound annual growth rate (CAGR) of 33% in the past. To hit this price by 2029, Bitcoin would need to grow at a CAGR of 44%, which is not outside the realm of possibility given its past performance.