Bernstein Sees Bitcoin Bottom Near $60,000 as Institutions and Stablecoins Fuel the Next Leg Higher

Bernstein says Bitcoin appears to have established a floor around $60,000 and is tracking toward $80,000. The firm points to renewed institutional inflows, MicroStrategy's continued accumulation via its STRC product, and deeper integration of blockchain into financial infrastructure as key drivers of asymmetric upside. Distribution is also broadening, with Morgan Stanley's Bitcoin ETF and Charles Schwab's spot platform widening investor access. Bernstein notes that roughly 60% of Bitcoin's supply has remained unmoved over the past year, while stablecoin supply has climbed to a record $300 billion. Real-world asset tokenization is accelerating as well, up 110% year over year to $345 billion. On the risk front, Bernstein says long-term threats from quantum computing remain manageable.