Wall Street Sees Bitcoin Reaching $1 Million by 2033

Wall Street is showing increased optimism about Bitcoin's future price, according to a report by Bernstein. Gautam Chhugani, senior analyst at Bernstein, expects BTC to reach $125,000 by the end of 2026, rise to $150,000 by mid-2027, and potentially hit $300,000 in 2029.

Bernstein's more aggressive scenario places Bitcoin at $500,000 in 2029 and $1 million by 2033. The prediction is based on the growing influence of spot Bitcoin ETFs, institutional investors, and corporate buyers.

The report notes that recent market corrections have been less severe than previous ones, with drawdowns closer to 50% compared to 75-90%. This could indicate a stronger base during market downturns due to increased institutional ownership.