Bitcoin may have bottomed out; Bernstein maintains its year-end price target of $150,000.

On March 24th, CoinDesk reported that Wall Street brokerage Bernstein stated in its latest report that Bitcoin has bottomed out and reiterated its year-end price target of $150,000. The report points out that the recent pullback in Bitcoin is a sentiment reset, with no systemic risks emerging in the fundamentals. Bitcoin has risen approximately 25% relative to gold since the outbreak of the conflict in Iran at the end of February. Bernstein is also bullish on Bitcoin vault company MicroStrategy (Strategy, MSTR), calling it a high-beta Bitcoin agent that currently holds approximately 3.6% of the total Bitcoin supply, with a market capitalization of approximately $53.5 billion. They gave it an "Outperform" rating and a target price of $450. The report also mentions the rising demand for MicroStrategy's preferred stock instrument, STRC, which offers an 11.5% monthly dividend and low volatility, helping to provide long-term capital while reducing equity dilution.