Stock-2-Flow’s PlanB Reiterates $500,000 Bitcoin Price Forecast

The Bitcoin (BTC) price may reach an average of $500,000 between 2024 and 2028. This forecast was shared by PlanB, the analyst behind the Stock-to-Flow (S2F) model.

On July 2, 2025, he restated this outlook, prompting further discussion among market analysts.

This is especially as fresh metrics from CryptoQuant and Glassnode surfaced the same day.

PlanB’s Bitcoin Price Estimate Draws Market Focus

PlanB stated that the Bitcoin price might average $500,000 during the current halving cycle. This cycle covers the years 2024 through 2028.

He posted the update via X, reigniting interest among long-time followers of the S2F model.

The S2F model bases its prediction on Bitcoin’s limited supply. PlanB gave a range of possible outcomes between $250,000 and $1 million.

Additionally, he noted that midpoint prices, such as $300,000 or $600,000, could also play out.

Meanwhile, he cautioned that the model was rough and should not be taken as a guarantee.

Bitcoin hovered near its all-time high when PlanB shared the update. He supported the forecast with data from long-term holders.

According to him, unrealized profits for these holders were at 220%.

This level was lower than the 300 to 350% recorded during previous cycle tops in March and December 2024.

He added that Bitcoin might need to reach $140,000 to match earlier peaks in profit margins.

Market Metrics Show Strength but Not Yet Peak

Furthermore, fresh data from CryptoQuant and Glassnode provided more insight into Bitcoin’s position.

CryptoQuant reported that long-term holder unrealized profits dropped back to 220%. The last time this happened was during the October 2024 correction.

CryptoQuant also revealed that the realized price for long-term holders stood at $39,000. This figure signaled room for growth, especially if bullish sentiment continued.

Glassnode’s update confirmed that Bitcoin price dips had remained shallow. The price stayed above the one-month realized level of $105,100.

Short-term holder cohorts are still in profit. Their realized prices ranged from $98,100 to $106,300 across different time frames.

A chart posted by Glassnode helped illustrate these trends.

The firm suggested that the Bitcoin price should cross the $140,000 mark to enter a new momentum phase.

Although not at peak levels, current figures indicate a resilient market.

As of the time of writing, market data indicate that the largest digital asset, Bitcoin, was trading at $107,294.37, up by 0.79% in the last 24 hours.

It remains the leader of global digital assets with a market capitalization of $2.13 trillion.

Institutions Increase Holdings Amid Forecast

It is worth noting that alongside the forecast and price data, institutions made significant moves.

We recently covered that Metaplanet, a Japan-based firm, purchased 1,005 BTC for $108.1 million.

It is worth noting that this acquisition increased its total holdings to 13,350 BTC.

Notably, it also moved the company ahead of Galaxy Digital and CleanSpark. With this, Metaplanet became the fifth-largest corporate holder of Bitcoin.

Michael Saylor’s company, Strategy, also added to its portfolio. The firm bought 4,980 BTC for $531.9 million.

This brought Strategy’s total holdings to 597,325 BTC, strengthening its position as one of the leading institutional investors in the crypto space.

Other institutional investors such as Semler Scientific and GameStop, among others, have also increased their Bitcoin holdings.

Although no detailed adoption statistics were shared, the rise in realized prices and steady demand suggested growing market interest.

Analysts on X suggested that shallow dips and long-term profit levels may attract more investors in the months ahead.

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