Bitcoin’s price may have plummeted in recent days, but analysts at Bernstein still believe the leading cryptocurrency has plenty of room to grow over the next year or so.
In a report released by the global investment firm on Wednesday, analysts Gautam Chughani, Mahika Sapura and Sanskar Chindariya believe the largest digital coin will reach $200,000 by the end of 2025. I wrote that it is.
And that, they said, was “conservative.”
“With accelerating institutional adoption, Bitcoin is expected to triple from here, reaching a cycle-high price of $200,000 by the end of 2025,” the report said.
Bitcoin is currently trading at just under $65,750, down nearly 3% in seven days. At the end of the week, it rose above $69,000 for the first time in nearly three months. The asset hit an all-time high of $73,737 in March.
Bernstein analysts previously predicted that Bitcoin could reach $150,000 in 2025 due to huge demand for the newly approved Spot Bitcoin Exchange Traded Fund (ETF) in the US. was. They continued to argue in Wednesday’s report that demand for these products will push up asset prices.
ETFs (traded on stock exchanges and allowing investors to buy digital assets through their brokerage accounts) have been so successful that institutions such as Morgan Stanley have enabled them to safely gain exposure to Bitcoin. It became.
Last week, the fund, run by Wall Street giants like BlackRock and Fidelity, surpassed $20 billion in total inflows, even though it was only approved in January.
The report added that the stock prices of US Bitcoin mining company and MicroStrategy, a software company that added cryptocurrencies in 2020 and is now securitizing Bitcoin, will continue to rise. Such investments are used to expose investors to the world of cryptocurrencies without owning Bitcoin. MicroStrategy is the world’s largest corporate treasury reserve holder with over $16 billion worth of BTC.
Edited by Andrew Hayward
Daily debriefing newsletter
Start each day with the current top news stories, plus original features, podcasts, videos, and more.
