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Bernstein analyst Gautam Chhugani projects that Bitcoin could reach $1 million per token by the year 2033, driven by a thesis that U.S. currency debasement will make scarce digital assets a preferred hedge.
This forecast appears in a research note from Chhugani and his team, who recommend buying Bitcoin to protect against the erosion of the dollar's value.
The prediction comes as Bitcoin trades at approximately $78,000 per token, a rebound from a low of below $60,000 earlier this year following an all-time high of more than $126,000 in October.
The analyst argues that the U.S. government is likely to manage its recent debt milestone of $40 trillion through debasement rather than fiscal discipline.
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