Wall Street Analyst Sees Bitcoin Reaching $1 Million by 2033

A Wall Street analyst has identified Bitcoin as the top cryptocurrency to buy before it reaches $1 million per token by 2033.

The sector has bounced back in August due to renewed interest and potentially favorable regulatory developments, with analysts becoming more bullish.

Bernstein analyst Gautam Chhugani notes that while governments may prefer debasement over fiscal restraint to manage debt, this would lead to a weaker dollar and greater concern about currency debasement.

Chhugani's 'accelerated bull case' scenario suggests Bitcoin could peak at $500,000 by 2029 before reaching $1 million in 2033, with the base case estimating $300,000 per token by 2029 but still $1 million by 2033.