Research and brokerage firm Bernstein has raised its price target for Bitcoin from $150,000 to $200,000 by the end of 2025. The firm, known for its insightful analysis, adjusted its BTC target for 2025, emphasizing the ongoing bullish trend in the cryptocurrency market. Analysts at Bernstein project a staggering long-term trajectory for Bitcoin, anticipating a climb to $500,000 by the conclusion of 2029 and a remarkable $1 million by 2033. In their assessment, Bernstein highlights MicroStrategy, a notable institutional Bitcoin investor, as a poised performer in the evolving landscape of digital assets.

Bernstein's analysts, Gautam Chhugani and Mahika Sapra, underscore the significance of spot Bitcoin ETFs as a pivotal juncture for Bitcoin and the wider crypto sphere. They assert that the surge in ETF demand coupled with the finite supply of Bitcoin forms the foundation of their BTC forecasts. The analysts state that the approval of US-based ETFs marks a transformative era for cryptocurrencies by ushering in substantial capital inflows from traditional investment circles.

The impact is substantial, with an estimated $15 billion expected to flow into ETFs, equivalent to around 7% of the circulating Bitcoin supply by 2025 and a substantial 15% by 2033. Based on these projections, Bernstein anticipates Bitcoin prices to soar to $200,000 by the conclusion of 2025 and reach an impressive milestone of $1 million by 2033.

Analysts also draw attention to MicroStrategy's founder, Michael Saylor, who has emerged as a prominent figure synonymous with Bitcoin's narrative. They depict MicroStrategy (MSTR) as a leading entity within the Bitcoin sector, attracting substantial capital due to its active approach towards acquiring Bitcoin assets.