AllianceBernstein, a global asset management firm based in Nashville, has made a bold prediction that Bitcoin's price could soar to $1 million by 2033. The firm anticipates that Bitcoin could double its value within four years after potentially hitting $500,000 in 2029.
For the current year, Bernstein has revised its year-end price target for Bitcoin from $150,000 to $200,000. This optimistic outlook is driven by the significant demand for Bitcoin exchange-traded funds (ETFs) introduced earlier this year. Bernstein forecasts that Bitcoin ETFs could comprise up to 15% of the total supply within the next decade.
However, JPMorgan remains skeptical of this bullish sentiment, suggesting that the net flows into Bitcoin ETFs are greatly overstated. The banking giant attributes more than half of the inflows to movements from crypto exchange wallets and expects these inflows to slow down in the future.
Comentários