Analysts at the investment company Bernstein suggested that the Bitcoin exchange rate will reach $1 million by 2033. The researchers made this forecast while analyzing the shares of MicroStrategy, one of the largest holders of BTC.

Experts have rated US software company MicroStrategy’s (MSTR) stock an Overweight rating and estimate it could reach $2,890, an estimated upside of 94% from MSTR’s current price of $1,483.

According to analysts, MicroStrategy has plenty of time to profit from Bitcoin’s bullish trend: the company currently holds 214,400 BTC worth $14.42 billion. With more than 1% of the entire Bitcoin supply, MicroStrategy is considered one of the largest institutional holders of the first cryptocurrency. In addition, the company hopes to buy more bitcoins thanks to its recent $500 million bond issue.

The rapid growth of Bitcoin will lead to an increase in the company’s profits, analysts believe. They estimate that MicroStrategy’s unrealized profit on Bitcoin is about $7 billion. This figure will increase if the BTC price exceeds current levels, and Bernstein analysts expect this jump to be very large.

When Bitcoin reached a new all-time high in March, exceeding $72,000, analysts believed that the first cryptocurrency could reach $150,000. Now they have updated their forecast: Bitcoin will rise to $200,000 by next year. The forecast revision is associated with high demand for spot Bitcoin ETFs . Since January, net inflows into these financial products have totaled $15.3 billion, despite steady outflows from the Grayscale Bitcoin Trust (GBTC).

Bernstein analysts also predict that in five years Bitcoin will grow by 644% and will trade at $500,000 per coin. By 2033, Bitcoin growth will be 1,388%, and its target mark is set at $1 million.

Let us recall that in February, Bernstein researchers named ether the only cryptocurrency other than Bitcoin that could receive approval from the American regulator to launch spot exchange-traded funds in the United States.