Skip to content
Subscriber Only

Byron Wien Sticks to 4,500 Target for S&P 500, Shuns Bitcoin

  • Sees inflation pressure lasting longer than Fed expects
  • His call for equity slump in first half has yet to materialize
Video player cover image
WATCH: Byron Wien, vice chairman at Blackstone Private Wealth Solutions, discusses his economic predictions for 2021.(Source: Bloomberg)

U.S. stocks will break out of a two-month slumber and resume their record-breaking rally as the economy recovers and inflation stays in check, according to Byron Wien, who favors gold over Bitcoin as a store of value.

The vice chairman of Blackstone Group Inc.’s private wealth solutions business reiterated his target for the S&P 500 Index to reach 4,500 at some point this year, a projection made in January that represents a roughly 6% advance from the index’s closing level on Tuesday.