比特幣不再只是投機性資產，它已成為公司戰略的核心部分

該預測假設比特幣將在2025年達到200,000美元，到2029年將達到500,000美元，到2033年最終將達到100萬美元。

According to a new report by Bernstein, Strategy (NYSE:STRG) could be holding over 1 million BTC by 2033 if market conditions remain favorable.

根據伯恩斯坦的一份新報告，如果市場條件仍然有利，則戰略（NYSE：Strg）可能會在2033年持有超過100萬BTC。

Currently, Strategy holds 506,137 BTC, making it the largest corporate holder of the cryptocurrency. However, Bernstein’s bullish scenario suggests that the firm could more than double that, reaching 1,013,000 BTC, which amounts to 5.8 percent of Bitcoin’s current circulating supply.

目前，戰略持有506,137 BTC，使其成為加密貨幣的最大公司持有人。但是，伯恩斯坦（Bernstein）的看漲情景表明，該公司可以翻一番以上，達到1,013,000 BTC，佔比特幣當前循環供應的5.8％。

This projection assumes that Bitcoin will hit $200,000 by 2025, $500,000 by 2029, and eventually $1 million by 2033. To fund this aggressive expansion, Strategy would likely rely on the capital markets, potentially increasing its debt from $11 billion to a staggering $100 billion and raising $84 billion in equity. The analysts believe that lower interest rates and strong investor demand would be key to making this plan feasible.

該預測假設比特幣將在2025年達到200,000美元，到2029年將達到500,000美元，到2033年最終達到100萬美元。為了資助這一積極的擴張，戰略可能會依靠資本市場，將其債務從110億美元增加到超額$ 1000億美元，並籌集了840億美元的股票。分析師認為，較低的利率和強勁的投資者需求將是使該計劃可行的關鍵。

If Bitcoin Peaks In 2025

如果比特幣在2025年達到峰值

Not everyone anticipates Bitcoin to continue rising without any setbacks. If Bitcoin reaches a peak in 2025 and then starts a long decline, Strategy might stop buying more BTC and hold around 514,800 BTC, which is just 2.6 percent of the total supply.

並非每個人都希望比特幣在沒有任何挫折的情況下繼續上升。如果比特幣在2025年達到高峰，然後開始長期下降，則策略可能會停止購買更多的BTC並持有約514,800 BTC，這僅佔總供應量的2.6％。

In this case, the company might even have to sell some of its Bitcoin to handle its growing debt, which would still climb but to a smaller amount—around $51 billion.

在這種情況下，該公司甚至可能不得不出售其一些比特幣來處理其不斷增長的債務，但這仍然可以攀升，但數量較小 - 損失了510億美元。

Investors Still See Growth Potential

投資者仍然看到增長潛力

Despite the risks, Bernstein remains confident in Strategy’s long-term position, maintaining an “outperform” rating and setting a $600 price target—a 75 percent upside from current levels.

儘管有風險，但伯恩斯坦仍然對戰略的長期職位，保持“跑贏大盤”的評級並設定600美元的目標目標，這是75％的上漲空間。

The firm’s valuation model applies a 2x EV/sales multiple to Strategy’s software segment and a 55 percent premium on its Bitcoin holdings, in line with its average market valuation since pivoting to Bitcoin in 2020.

該公司的估值模型對策略的軟件細分市場應用2X EV/銷售倍數，其比特幣持有量為55％的溢價，這與2020年旋轉到比特幣以來的平均市場估值一致。

Strategy continues its Bitcoin buying spree. Between March 17 and March 23, the company added another 6,911 BTC for $584.1 million.

策略繼續其比特幣購買狂潮。在3月17日至3月23日之間，該公司以5.841億美元的價格增加了6,911 BTC。

This purchase further cements Bitcoin as Strategy’s primary treasury asset, a strategy that has seen the company outperform the market despite market volatility.

這次購買進一步鞏固了比特幣作為策略的主要國庫資產，儘管市場波動，但該戰略已經使公司優於市場。

The post Bitcoin: Bernstein's Bullish Scenario Sees Strategy Holding 1M BTC By 2033 appeared first on Benzinga.

比特幣郵政：伯恩斯坦的看漲場景認為，到2033年，持有1M BTC的戰略首先出現在Benzinga上。