Bitcoin’s Price Projection: $150,000 by 2025 on ETF Optimism, Reveals Bernstein
Bitcoin’s price is expected to surge to $150,000 by mid-2025, a remarkable fivefold increase from its current value of $35,000, as predicted by Bernstein. This bullish outlook is anchored in the anticipation of a bitcoin exchange-traded fund (ETF) gaining regulatory approval.
Gautam Chhugani, an analyst at Bernstein, holds the belief that the U.S. Securities and Exchange Commission (SEC) will greenlight a bitcoin ETF by the early months of 2024. Such approval could trigger a significant shift, directing up to 10% of Bitcoin’s circulating supply into ETFs, allowing conventional investors to seamlessly integrate Bitcoin exposure into their portfolios. Presently, Grayscale’s Bitcoin Trust is the closest comparable product, holding approximately 3% of the total Bitcoin supply.
Chhugani emphasized, “Taking an impartial view of Bitcoin as a commodity suggests a turning point is on the horizon.” This reflects the imminent possibility of SEC-approved ETFs backed by major asset management firms such as BlackRock and Fidelity.
This forecast aligns with Chhugani’s initiation of coverage on various bitcoin mining companies, coinciding with the upcoming Bitcoin “halving” in April 2024. The halving event is expected to weed out less profitable miners, potentially creating substantial opportunities for those that persevere.
However, it’s crucial to remember that despite Bitcoin’s recent climb to $35,000, its price remains contingent on regulatory developments. SEC Chair Gary Gensler’s longstanding criticism of the cryptocurrency industry adds an element of uncertainty to the potential ETF approval.
In light of these developments, this could be an auspicious moment for cryptocurrency enthusiasts to explore their options. Considering the projected growth in the market, creating crypto tokens today might prove to be a prudent decision. Staying well-informed and making investment choices judiciously is paramount in this dynamic landscape.
Article Source: https://www.cnbc.com/2023/10/31/bitcoin-could-hit-150000-by-2025-predicts-bernstein.html
