Bernstein Sees Bitcoin Reaching $150,000 by Mid-2027 While Cutting Strategy Price Target to $350

Bernstein analysts expect Bitcoin to reach roughly $125,000 by the end of 2026, followed by a new high of $150,000 by mid-2027, under the firm’s base-case outlook. The analysts also project a potential cycle peak of around $300,000 in 2029 while maintaining a long-term Bitcoin forecast of approximately $1 million by the end of 2033.

According to information shared by @WuBlockchain on X, Bernstein has also maintained its Outperform rating on Strategy while lowering its price target for the company from $450 to $350.

The revised target for Strategy reflects changes to Bernstein’s Bitcoin cycle outlook as well as accelerated equity dilution, according to the information provided. The firm’s Bitcoin projections, meanwhile, outline multiple potential paths depending on the pace of currency debasement and institutional investment.

Bernstein Sets Bitcoin Target at $125,000 for 2026

Bernstein’s base-case forecast places Bitcoin at roughly $125,000 by the end of 2026. The projection represents the firm’s assessment of where the cryptocurrency could stand as the current market cycle develops.

The analysts then expect Bitcoin to reach approximately $150,000 by mid-2027, marking a new high under the base-case scenario.

Beyond 2027, Bernstein projects a cycle peak of around $300,000 in 2029. The forecast reflects the firm’s longer-term view of Bitcoin’s potential markets development rather than a short-term price target.

Bitcoin’s price outlook remains closely connected to expectations surrounding institutional participation, monetary conditions and the broader adoption of digital assets. Bernstein’s projections provide a structured timeline extending from the end of 2026 through 2029 and ultimately toward 2033.

The firm has maintained its long-term forecast of approximately $1 million for Bitcoin by the end of 2033.

More Aggressive Scenario Could Push Bitcoin Higher

Bernstein also outlined a more bullish scenario linked to accelerating currency debasement and stronger institutional inflows.

Under that scenario, Bitcoin could reach $200,000 by mid-2027 and $500,000 in 2029.

The difference between the base case and the more aggressive scenario reflects the potential impact of monetary conditions and institutional demand on Bitcoin’s valuation. The base case calls for approximately $150,000 by mid-2027 and $300,000 in 2029, while the alternative scenario places the corresponding figures at $200,000 and $500,000.

The firm’s long-term projection remains unchanged at approximately $1 million by the end of 2033.

These forecasts represent Bernstein’s expectations rather than guaranteed price outcomes. The figures are dependent on the assumptions underlying each scenario, particularly those involving currency debasement and institutional investment.

Bernstein Cuts Strategy Price Target to $350

Alongside its Bitcoin forecast, Bernstein has revised its outlook for Strategy, the company known for holding a substantial amount of Bitcoin on its balance sheet.

The firm maintained its Outperform rating on Strategy but reduced its price target from $450 to $350.

According to the information shared on X, Bernstein attributed the reduction to a revised Bitcoin cycle outlook and accelerated equity dilution.

Equity dilution occurs when a company issues additional cryptocurrency shares, increasing the number of shares outstanding. For existing shareholders, additional issuance can affect their proportional ownership and the value attributed to each share.

The revised Strategy target therefore reflects factors beyond Bitcoin’s projected price. While the company’s valuation is closely linked to the performance of its Bitcoin holdings, Bernstein also considers changes in its equity structure when assessing the stock.

Bitcoin Outlook Extends Through 2033

Bernstein’s projections provide a multi-stage outlook for Bitcoin, beginning with the expected $125,000 level by the end of 2026 and extending to approximately $1 million by the end of 2033.

Under the base case, the cryptocurrency is expected to reach $150,000 by mid-2027 and around $300,000 in 2029. The alternative scenario raises those projections to $200,000 and $500,000, respectively, if currency debasement accelerates and institutional inflows increase.

The forecasts demonstrate the wide range of outcomes considered by the firm depending on broader economic and investment conditions.

For Strategy, however, Bernstein has taken a more cautious position on the stock’s price target, reducing it from $450 to $350 while retaining the Outperform rating.

The combination of the updated Bitcoin projections and revised Strategy target reflects the firm’s latest assessment of cryptocurrency market cycles, institutional participation and equity dilution. Its longer-term Bitcoin forecast of approximately $1 million by the end of 2033 remains unchanged.

Writer: Victoria Hale
Technology & Blockchain Writer

Victoria Hale writes about blockchain technology, digital infrastructure, and the intersection of emerging technologies with finance. Her articles explore how new protocols and systems are shaping the evolving digital economy.

She prioritises clarity and accuracy when explaining technical developments to a general audience.