Bernstein 加倍下调比特币价格预测，目标是到 2033 年达到 100 万美元

Bernstein 分析师还修改了对当前周期的预测，现在预计旗舰加密货币到 2025 年底将达到 20 万美元

Investment firm Bernstein has raised its long-term price projection for Bitcoin to an impressive $1 million by 2033, driven by increasing demand and a limited supply of the flagship crypto.

受需求增长和旗舰加密货币供应有限的推动，投资公司 Bernstein 将比特币的长期价格预测上调至 2033 年令人印象深刻的 100 万美元。

The firm's analysts also revised their predictions for the current cycle, now expecting Bitcoin to hit $200,000 by the end of 2025, up from their earlier estimate of $150,000. Bernstein also anticipates the crypto to reach $500,000 by 2029.

该公司的分析师还修改了对当前周期的预测，目前预计比特币到 2025 年底将达到 20 万美元，高于之前的 15 万美元估计。 Bernstein 还预计，到 2029 年，加密货币的价值将达到 50 万美元。

According to Bernstein, this growth is expected to be fueled by increasing demand for Bitcoin through various channels, notably the newly launched ETFs and the trend of corporations adding Bitcoin to their treasuries. The firm highlights that this rising demand, coupled with Bitcoin's shrinking supply, points to remarkable potential for growth.

伯恩斯坦表示，这种增长预计将由各种渠道对比特币的需求增加推动，特别是新推出的 ETF 以及企业将比特币添加到其金库中的趋势。该公司强调，这种不断增长的需求，加上比特币供应的萎缩，表明了巨大的增长潜力。

Despite Bitcoin's recent struggle to maintain its position above $67,000, with prices slipping to around $66,850, Bernstein's optimistic forecast highlights the long-term potential within the crypto market.

尽管比特币最近努力维持在 67,000 美元以上的位置，价格跌至 66,850 美元左右，但 Bernstein 的乐观预测凸显了加密市场的长期潜力。

The analysts also note that the broader economic environment, including easing US inflation and shifting political attitudes towards cryptocurrencies, supports a positive outlook for Bitcoin and MicroStrategy.

分析师还指出，更广泛的经济环境，包括美国通胀的缓解和对加密货币的政治态度的转变，支持了比特币和 MicroStrategy 的积极前景。

As part of its bullish outlook, Bernstein also initiated coverage of MicroStrategy, assigning it an outperform rating with a price target of $2,890. The Virginia-based company, known for its significant Bitcoin holdings, closed at approximately $1,484 on June 14.

作为其看涨前景的一部分，Bernstein 还对 MicroStrategy 进行了覆盖，给予其跑赢大盘评级，目标价为 2,890 美元。这家总部位于弗吉尼亚州的公司以其持有大量比特币而闻名，6 月 14 日收盘价约为 1,484 美元。

Having undergone a remarkable transformation over the past four years, MicroStrategy, which holds about 214,400 bitcoins (around $14.5 billion), has shifted its focus from being a small software firm to a major player in the crypto market. The company began allocating its capital to BTC in 2020, and its founder and chairman, Michael Saylor, has emerged as a prominent advocate for the digital currency.

持有约 214,400 枚比特币（约合 145 亿美元）的 MicroStrategy 在过去四年中经历了显着的转型，已将其重点从一家小型软件公司转变为加密货币市场的主要参与者。该公司于 2020 年开始将资金分配给 BTC，其创始人兼董事长 Michael Saylor 已成为数字货币的杰出倡导者。

Highlighting Saylor’s strategic approach in positioning MicroStrategy as a leading Bitcoin enterprise, Bernstein analysts Gautam Chhugani and Mahika Sapra stated, “Michael Saylor has become synonymous with brand Bitcoin, and MicroStrategy has positioned itself as an active leveraged Bitcoin strategy versus passive spot ETFs.”

Bernstein 分析师 Gautam Chhugani 和 Mahika Sapra 强调了 Saylor 将 MicroStrategy 定位为领先比特币企业的战略方针，表示：“Michael Saylor 已成为比特币品牌的代名词，而 MicroStrategy 将自己定位为主动杠杆比特币策略，而不是被动现货 ETF。”

According to the firm, this active strategy has resulted in a higher Bitcoin per equity share compared to passive approaches.

该公司表示，与被动策略相比，这种主动策略导致每股比特币价格更高。

As part of its long-term financial strategy, MicroStrategy has employed convertible debt, which enables the company to capitalize on Bitcoin's potential upside while minimizing liquidation risks.

作为其长期财务战略的一部分，MicroStrategy 采用了可转换债务，这使该公司能够利用比特币的潜在上涨空间，同时最大限度地降低清算风险。

In recent months, the company has raised billions of dollars via multiple debt offerings to bolster its BTC holdings.

近几个月来，该公司通过多次发债筹集了数十亿美元，以增加其比特币持有量。

On June 13, the firm announced a new $500 million debt sale of convertible notes to further boost its Bitcoin reserves. The company later increased the offering amount to $700 million on June 14.

6 月 13 日，该公司宣布新一轮 5 亿美元的可转换票据债务出售，以进一步增加其比特币储备。该公司随后于 6 月 14 日将发行金额提高至 7 亿美元。

Bernstein believes that MicroStrategy's proactive stance and substantial Bitcoin holdings position it to benefit significantly from the projected growth in crypto value over the coming decade.

Bernstein 认为，MicroStrategy 的积极立场和大量比特币持有量使其能够从未来十年加密货币价值的预计增长中受益匪浅。

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