Broker Bernstein said in a survey report on Monday that Bitcoin (BTC) financial purchases (BTC) could reach $330 billion by the end of 2029.
Strategy (MSTR) is the biggest buyer, and for broker bulls, the world’s largest crypto could be another $124 billion. The Michael Saylor-led company announced an additional $21 billion in common stock in the market last week to buy more Bitcoin.
“The US Crypto regulatory regime has further accelerated the growth of corporate ownership in Bitcoin,” an analyst led by Gautam Chhugani wrote.
Bernstein expects other listed companies to allocate roughly $200 billion to their Bitcoin acquisition strategy.
Public companies currently own around 2.4% of their Bitcoin supply, or around 720,000 BTC on their balance sheet, the report says.
Still, the strategy is “hard to replicate scales” and not all Bitcoin Treasury will be successful in trying to replicate the company’s playbook, the report added.
The strategy acquired an additional 1,895 Bitcoins for $180 million last week.
read more: Michael Saylor’s strategy adds 1,895 bitcoins and brings the company’s stack to 555,450 BTC