Bitcoin would reach $1 million in 2033, according to Bernstein.
The company foresees a prosperous future for Bitcoin mining companies and exchanges.
Bernstein is a firm that specializes in the research and execution of global equity transactions.
For this company, with headquarters in New York (United States) and London (United Kingdom), cryptocurrencies and bitcoin (BTC) are not foreign.
As CriptoNoticias reported on October 9, Bernstein analysts have made projections about the price of bitcoin in the near future. For them, the results of the elections in the United States will be fundamental in determining the direction the price of the digital currency will take. In the event of a victory for Republican Donald Trump, bitcoin would go to $90,000 this year. On the other hand, if Democrat Kamala Harris won, it would go to $40,000.
Beyond the volatility that bitcoin may have in the short term, in the medium and long term, Bernstein maintains his bullish thesis. A recent report of the company says again – as it had been stated in June – that BTC will reach $200,000 in 2025.
And, those who keep their BTC for a while longer would be even more favored because, according to Bernstein analysts, Bitcoin will reach $1 million in 2033.
The investment company’s report says that “ten global asset managers now hold approximately $60 billion in bitcoin wrapped up in regulated ETFs.” They believe that this trend will continue to increase, so, by the end of 2024, they hope that “Wall Street will replace Satoshi Nakamoto as the main bitcoin wallet.”
Bernstein not only focuses on the price of bitcoin but on the entire industry around this digital asset. Regarding mining, they comment:
“Major Bitcoin miners in the United States are consolidating their stake and building energy infrastructure. “They are also emerging as attractive partners for GPU cloud providers, offering gigawatt-scale power access, reducing time to market to power AI data centers.”
Bernstein, financial analysis company.
CriptoNoticias has reported on the trend of Bitcoin mining companies to diversify their activities and use part of their resources and infrastructure to power artificial intelligence data centers. Bernstein anticipates this will continue to increase.
According to the company’s projection, other companies in the cryptocurrency industry, not just miners, will also grow further. «We hope that Riot, CleanSpark and Marathon consolidate the Bitcoin mining industry. Core Scientific and Iris Energy are building AI data centers. MicroStrategy is innovating by using bitcoin as a corporate treasury asset. “Robinhood is building a futuristic cryptocurrency investment platform,” the report states.
Beyond price predictions or market fluctuations, what seems undeniable is that bitcoin has already transcended its initial stage of uncertainty and is now an asset that resonates through the halls of Wall Street and cutting-edge data centers.
While the road ahead is full of challenges, it is also full of opportunities. Institutional adoption and the evolution of the infrastructure around bitcoin suggest that we are witnessing not only a new phase of growth, but the consolidation of a financial revolution that has not yet shown its true scope.
