Wall Street broker Bernstein declared Bitcoin has found its bottom and is poised for gains, maintaining its $150,000 year-end price target.
Analysts led by Gautam Chhugani said the recent 45% pullback from late-2025 highs reflects a sentiment reset-not a fundamental breakdown. Drivers included higher-for-longer rates, Middle East geopolitical stress, and ETF outflows.
Bernstein retains its Outperform rating on MicroStrategy (MSTR), calling it a high-beta Bitcoin proxy with a resilient balance sheet. The firm holds ~3.6% of all Bitcoin-$53.5 billion worth.
The firm also highlighted growing demand for MicroStrategy’s STRC preferred shares, offering an 11.5% monthly dividend and trading volume up 65% over three months.