Bitcoin to Hit $300,000 by 2029 According to Bernstein's Base-Case Forecast

Financial services firm Bernstein has made some bold predictions about Bitcoin's future price. According to its base-case forecast, the cryptocurrency will reach $300,000 by 2029.

The projection follows a recent rally that saw Bitcoin briefly surpass $80,000 in August. Under this scenario, the asset would need to gain approximately 282% from its current press-time price of $78,471.

Bernstein's analysts identified growing institutional ownership as a key driver of the forecast. They noted that spot Bitcoin exchange-traded funds (ETFs) and corporate treasury buyers have created a more stable holder base.

The firm also highlighted continued purchases by Strategy, formerly MicroStrategy, as an important source of demand during periods of market weakness.