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In summary
- Bernstein analysts predict that Bitcoin will reach $200,000 by the end of 2025, tripling its current value.
- The firm cites the acceleration of institutional adoption and demand for Bitcoin ETFs as key factors for this growth.
- Bitcoin ETFs, managed by Wall Street titans like BlackRock and Fidelity, have surpassed $20 billion in total inflows to date.
Bitcoin’s price may have taken a hit in recent days, but analysts at Bernstein remain convinced that the leading Cryptocurrency has plenty of room for growth in the next year or so.
In a Wednesday report from the global investment firm, analysts Gautam Chhugani, Mahika Sapra and Sanskar Chindalia wrote that they believe the largest digital currency will reach $200,000 by the end of 2025.
And that is being “conservative,” they said.
“With institutional adoption accelerating, we expect Bitcoin to triple in value from here to reach a cycle high price of $200,000 by the end of 2025,” the report quotes.
Bitcoin is now trading for just under $65,750, falling almost 3% over a seven-day period. Over the weekend, its price was above $69,000 for the first time in almost three months. The asset reached an all-time high price of $73,737 in March.
Bernstein analysts had previously predicted that Bitcoin could reach $150,000 in 2025 due to high demand for the newly approved Bitcoin exchange-traded funds (ETFs) in the U.S. They continued to argue in Wednesday’s report that demand of these products will drive the asset upwards.
ETFs, which trade on stock exchanges and allow investors to purchase the digital asset through their brokerage accounts, have been hugely successful and have allowed institutions like Morgan Stanley to gain safe exposure to Bitcoin.
Last week, the funds, run by Wall Street titans like BlackRock and Fidelity, surpassed $20 billion in total inflows to date, despite being approved in January.
The report added that American Bitcoin Mining companies and software company MicroStrategy, which in 2020 adopted the cryptocurrency and now holds huge amounts of Bitcoin, would continue to advance. Such investments are used by investors to gain exposure to the world of cryptocurrencies without owning Bitcoin. MicroStrategy is the largest holder of corporate Bitcoin treasury reserves in the world, with over $16 billion in BTC.
Edited by Andrew Hayward
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