Debasement trade to take bitcoin to $300,000 in three years, Bernstein says

Bernstein analysts project bitcoin could reach $300,000 within three years, arguing a "debasement trade"—driven by sustained fiscal deficits and monetary accommodation—will push investors toward scarce digital assets. They see bitcoin as a hedge against fiat debasement and expect meaningful capital flows and further institutional adoption if that narrative strengthens. The implication for Bitcoin is significant upside potential and a growing role as a store of value, but the path depends on continued macro pressure and remains exposed to volatility and regulatory risk.