Wall Street research firm Bernstein has put fresh numbers on Bitcoin’s bull case, and they are not small. Analyst Gautam Chhugani issued a note forecasting that Bitcoin reaches $150,000 by mid-2027 and approximately $300,000 by the end of 2029, with the firm’s long-term target of $1 million by 2033 remaining unchanged since it was first set in mid-2024.
The note landed as Bitcoin was trading around $80,000, having climbed roughly 25% over the prior ten days.
What Bernstein is actually saying
The $150K and $300K figures represent Bernstein’s base case. In a more aggressively bullish environment, Chhugani’s model puts Bitcoin as high as $500,000 in 2029, with a mid-cycle recovery floor around $200,000 by mid-2027.
The firm updated its near-term targets upward while keeping the $1M long-run thesis intact.
