Bitcoin’s Next Stop: $500,000? Wall Street’s Boldest Bull Just Raised the Bar
At a Glance
- Bitcoin broke above $80,000 for the first time in 15 weeks, up 25% in 10 days
- Bernstein’s Gautam Chhugani: $150K by mid-2027, $300K by end of 2029
- Bull scenario: $200K by mid-2027, peaking near $500K in 2029
- Long-term target unchanged: $1 million by end of 2033
- Rally linked to the US Treasury doubling its bond buyback size to $4B per session
One Wall Street call now puts bitcoin on a path toward half a million dollars, and the bond market may be the real reason why.
Bitcoin is roaring back. The price cracked $80,000 for the first time in 15 weeks, and Wall Street’s boldest bitcoin bull just sharpened his numbers.
Key Details
Bernstein’s Gautam Chhugani laid out a base case: bitcoin hitting a new all-time high of $150,000 by mid-2027, then $300,000 by the end of 2029. In a faster scenario, driven by heavier institutional buying, he sees bitcoin near $200,000 by mid-2027 and peaking at $500,000 in 2029. His long-term target holds steady at $1 million by the end of 2033.
Market Reaction
The coin is up 25% in just 10 days, trading around $80,000. Traders are pointing to a surprise move from the US Treasury, which doubled its long-term bond buyback capacity from $2 billion to $4 billion per session, aimed at cooling yields on the 10-, 20-, and 30-year notes after they hit 20-year highs on stubborn inflation and war-driven energy costs.
Why It Matters
Treasury Secretary Scott Bessent says he still has a “big toolkit” to bring yields down. Chhugani argues that four decades of falling interest rates are over, leaving governments facing heavier debt-servicing costs. Faced with a choice between fiscal stress and currency debasement, he expects policymakers to lean toward the latter since it’s the politically easier path, a trend he says favors scarce assets like bitcoin.
Watch how the Treasury’s next moves ripple through bond yields, since that link now looks like the main driver behind bitcoin’s next leg up.
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Source: Yahoo Finance
