Bernstein Sets $300K Bitcoin Target for 2029 and Reiterates $1M Forecast for 2033

Wall Street research firm Bernstein issued a sweeping bullish outlook on Bitcoin on August 26, predicting the cryptocurrency will reach $150,000 by mid-2027, $300,000 by end of 2029, and $1 million by 2033. The firm cited institutional demand and currency debasement driven by sovereign debt as the primary catalysts. The forecasts arrived as on-chain data from CryptoQuant showed Bitcoin's market showing signs of short-term overheating, with whales realizing roughly $614 million in profits in a single day and traders' unrealized profit margin climbing to 20.5%, its highest level since June 2025.