# Bernstein Predicts Bitcoin Price to Hit $300K by 2029

By Riza Dagoc

Canonical URL: https://www.tokenpost.com/news/investing/22846
Published: 2026-08-26T15:23:19.000Z
Updated: 2026-08-26T15:23:19.000Z
Section: Investing

> Wall Street research firm Bernstein has renewed its bullish Bitcoin price outlook, forecasting BTC could reach $300,000 by the end of 2029 as institutional adoption and concerns over currency debasement strengthen dem…

Wall Street research firm Bernstein has renewed its bullish Bitcoin price outlook, forecasting BTC could reach $300,000 by the end of 2029 as institutional adoption and concerns over currency debasement strengthen demand for the cryptocurrency.

Bernstein analyst Gautam Chhugani expects Bitcoin to trade near $125,000 by the end of 2026 before climbing to a fresh high of around $150,000 by mid-2027. Under the firm's base-case forecast, BTC could eventually peak near $300,000 in 2029.

The projection assumes Bitcoin will broadly maintain its historical four-year market cycle. However, Bernstein believes rising sovereign debt and potential currency debasement could create an even stronger scenario. Under those conditions, Bitcoin could reach $200,000 by mid-2027 and $500,000 in 2029.

Institutional demand remains a major factor behind the bullish Bitcoin forecast. Bernstein highlighted increasing exposure through spot Bitcoin ETFs, while BlackRock has reportedly processed about $5 billion in tax-deferred Bitcoin-to-ETF swaps involving its iShares Bitcoin Trust.

Looking further ahead, Bernstein maintained its $1 million Bitcoin price forecast for the end of 2033. The firm argues that elevated government debt and changing interest-rate conditions could encourage policymakers to tolerate currency debasement, strengthening Bitcoin's appeal as a scarce store of value.

Despite its optimism on BTC, Bernstein lowered its Strategy stock price target. The firm maintained a Buy rating on MSTR but reduced its target from $450 to $350, citing dilution concerns. Canaccord, meanwhile, recently raised its own MSTR target from $130 to $175 while retaining a Buy rating.

MSTR shares fell more than 2% in Wednesday premarket trading as Bitcoin slipped toward $78,100. Derivatives data also pointed to increased caution, with total Bitcoin futures open interest declining 2.7% over 24 hours to $54.80 billion.

Prediction-market traders remain relatively bullish. Polymarket data showed a 69% probability that Bitcoin will reach $85,000 by December, highlighting expectations for further upside despite the latest pullback.