Wall Street Veteran Reaffirms Bitcoin Price Target of $444,000

Josh Mandell, a former trader at Salomon Brothers and Caxton Associates who correctly predicted Bitcoin’s surge to $84,000 in March, has once again doubled down on his bold forecast. He maintains that Bitcoin is on track to reach $444,000—a target that now appears increasingly plausible amid aggressive institutional accumulation.

A Forecast Backed by Market Momentum

Mandell reiterated his prediction in a recent post on X, where he highlighted his conviction that Bitcoin’s next stop is $84,000 before it continues toward the $444K mark. With a personal trading portfolio that has grown from $2 million to over $23 million in the past year, Mandell’s confidence draws attention across both retail and institutional investor circles.

What gives his forecast new weight is the scale of corporate buying now underway. In the past week alone, Strategy (MSTR) raised $2.5 billion through a preferred stock offering to increase its Bitcoin holdings, while MARA Holdings completed a $950 million convertible note round with the same objective. Japanese tech giant Metaplanet joined the momentum, acquiring 780 BTC valued at $92.5 million.

Institutional Demand Hits Record Levels

Corporate treasuries are moving past experimental allocations and embracing Bitcoin as a strategic asset. Strategy now holds over 607,000 BTC, with analysts from TD Cowen suggesting the firm could add another 17,000 BTC without shareholder dilution. MARA and other players are also expanding their exposure. Overall, combined corporate holdings of Bitcoin have surpassed $100 billion, with new companies joining the wave almost weekly.

ETF flows are reinforcing this trend. BlackRock’s spot Bitcoin ETF, launched in January 2024, has already amassed more than 390,000 BTC. SEC filings indicate that inflows are accelerating across all major ETF providers. The convergence of ETF adoption and treasury buying is creating unprecedented demand pressure on Bitcoin’s capped supply of 21 million coins.

Infrastructure and Policy Tailwinds

Improved institutional infrastructure is further enabling this growth. Platforms like Coinbase are offering advanced custody and settlement services, removing key operational barriers that previously deterred corporate adoption. In parallel, a potential pivot by the Federal Reserve toward more accommodative monetary policy by year-end could act as a powerful macro tailwind for risk assets, including crypto.

Mandell attributes his market foresight not to technical indicators but to decades of institutional experience and macroeconomic intuition. With a background forged during Wall Street’s volatile 1990s, he believes the confluence of structural and financial catalysts positions Bitcoin for a historic breakout.

Bitcoin Inches Toward New Highs

At the time of writing, Bitcoin is trading at $118,930, up from a recent low of $115,000. The total crypto market capitalization has once again crossed the $4 trillion mark, supported by sustained inflows and heightened investor interest.

Whether Mandell’s bold target of $444,000 proves as prescient as his March call remains to be seen. However, with institutional demand reaching unprecedented levels and market fundamentals strengthening, his thesis is gaining traction among analysts and investors alike.