Bernstein said Bitcoin could reach a new all-time high of about $150,000 by mid-2027 as the "currency debasement trade" gains traction, and may climb to roughly $300,000 at the peak of the current cycle in 2029. The firm also kept its outperform rating on Strategy (MSTR), while cutting its price target to $350 from $450. Bernstein said the lower target reflects an updated view of the Bitcoin market cycle and the dilutive effect of Strategy’s accelerated share issuance. The call ties the firm’s Bitcoin outlook to a broader macro trade centered on currency debasement, while also adjusting its equity view on one of the market’s best-known Bitcoin proxy stocks.
Bernstein said on Aug. 26 that Bitcoin could set a new all-time high of about $150,000 by mid-2027 as the "currency debasement trade" gradually gains traction. The firm added that Bitcoin may reach roughly $300,000 at the peak of the current cycle in 2029.
Strategy target cut, rating maintained
At the same time, Bernstein maintained its outperform rating on Strategy (MSTR) but lowered its price target to $350 from $450.
The firm said the change mainly reflects its updated view of the Bitcoin market cycle, along with the impact of equity dilution from Strategy’s accelerated share issuance.
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