Wall Street broker Bernstein has announced that Bitcoin (BTC) has likely hit its bottom, setting a bullish year-end price target of $150,000. The firm’s analysts, led by Gautam Chhugani, point to robust ETF flows and growing corporate treasury demand as key drivers for a potential rebound.
One of the most notable proponents of Bitcoin, MicroStrategy (MSTR), continues to bolster its position, now holding approximately 3.6% of the total Bitcoin supply, valued at around $53.5 billion. The company has been unwavering in its strategy, raising $7.3 billion in 2026 to further expand its Bitcoin holdings, even as the market experienced significant volatility.
MicroStrategy: A Resilient Bitcoin Bull
MicroStrategy’s unwavering commitment to Bitcoin has made it a high-beta proxy for the cryptocurrency. The company’s latest capital raise, which includes the addition of new sales agents like Moelis & Company, A.G.P./Alliance Global Partners, and StoneX Financial, underscores its aggressive approach to capitalizing on Bitcoin’s potential upside.
These new additions to its syndicate, which already includes major Wall Street firms such as Barclays, Morgan Stanley, and TD Securities, provide MicroStrategy with the flexibility to execute additional at-the-market (ATM) offerings for both its Class A common stock and preferred shares. This move could enable the company to raise up to $21 billion in new common stock, $21 billion in STRC preferred shares, and $2.1 billion in STRK preferred shares.
Market Sentiment and Institutional Interest
Despite Bitcoin’s sharp pullback from late-2025 highs, Bernstein characterizes the correction as a temporary reset in sentiment rather than a fundamental breakdown. The firm notes that institutional flows and ETF demand remain strong, pointing to further upside potential for the cryptocurrency.
Rising interest in MicroStrategy’s preferred shares, STRC, also highlights the market’s appetite for long-term, stable investments in Bitcoin. The structure of these shares helps limit dilution while providing steady long-term capital, making them an attractive option for institutional investors.
Technical and Geopolitical Factors
Bitcoin’s price has shown resilience, with a recent surge to nearly $71,000 following a brief pause in planned U.S. strikes against Iran. However, the market quickly retraced its gains after Iran’s Foreign Ministry denied the talks, underscoring the ongoing sensitivity to geopolitical events.
Despite the volatility, Bitcoin has risen roughly 7% since late February, outperforming traditional assets. Technical indicators suggest a period of consolidation, with potential moves toward $85,000–$90,000 if the $75,000 level is breached.
Looking Ahead
Bernstein’s bullish outlook on Bitcoin is supported by the continued expansion of MicroStrategy’s Bitcoin treasury and the growing institutional interest in the cryptocurrency. As more companies and institutional investors recognize the strategic value of Bitcoin, the market is likely to see further stabilization and growth. The next few months will be crucial in determining whether Bitcoin can break through key resistance levels and continue its upward trajectory.
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