Bernstein Predicts Bitcoin to Hit $200,000 by End of 2025
Bernstein analysts predict Bitcoin will hit $200,000 by the end of 2025 due to increased demand from institutional investors.
In a 160-page "Black Book" report, Bernstein Research analysts predict that Bitcoin could hit $200,000 by the end of 2025 as financial institutions gradually change the crypto market landscape.
Legendary Research Broker Bernstein Has Just Published One of its Famed "Black Books" on #Bitcoin!
160 Pages Explaining Why BTC Will Hit $200k by the end of 2025 and How Listed #Bitcoin Miners Will Continue to Consolidate the Industry. @gautamchhugani 👏 pic.twitter.com/lDnAvWeYIe
— matthew sigel, recovering CFA (@matthew_sigel) October 23, 2024
The clearest evidence is the explosion of Bitcoin ETFs since their launch in January 2024. According to the report, the top 5 ETFs launched this year are all Bitcoin ETFs, showing the growing interest of institutional investors in the king coin.
Notably, in just a few short months, Bitcoin ETFs managed by Wall Street giants have reached $21.34 billion in inflows with a total net asset value of more than $64.09 billion BTC (accounting for 4.86% of Bitcoin's capitalization).
Despite the impressive figure, Bernstein insists that this is a "conservative" estimate. They believe that demand for spot Bitcoin ETFs in the US will continue to increase, creating momentum to push up Bitcoin prices. This boom has led Bernstein to make a bold prediction: "Wall Street will dethrone Satoshi as the top Bitcoin wallet by the end of 2024".
Not only Bernstein, JP Morgan also believes in the potential of Bitcoin. The long-standing US financial services firm's October 3 report shows that investors are flocking to Bitcoin and gold as "deflationary trading" channels in the face of economic and political fluctuations. This view even coincides with the opinion of billionaire Paul Tudor Jones when he believes that all roads lead to inflation, making him support gold and Bitcoin.
In addition, Bernstein also pays special attention to the role of Bitcoin miners. Despite the fourth halving event in April 2024, which saw the block reward cut in half from 6.25 BTC to 3.125 BTC, and increasing competitive pressure as the hashrate hit a new record, Bernstein commented:
"Miners are showing signs of a strong recovery, and we expect Riot, ClearSpark, and Marathon to consolidate the Bitcoin mining sector in the coming period."
Bernstein's optimistic prediction on Bitcoin prices seems to be a common trend among investors recently. Previously, Asian elites expected Bitcoin to reach $100,000 by the end of the year, while Microstrategy CEO Michael Saylor boldly predicted $13 million per Bitcoin by 2045.
Bitcoin prices have not fluctuated much in the past 24 hours. At the time of writing, BTC prices are recovering to $67,220, up slightly by 0.22%.
