Bitcoin has been predicted to reach a value of $200,000 by 2025 according to analytic firm Bernstein. Indeed, the company expects the asset to surge in value over the next year due to the inflows from Spot Bitcoin ETF products approved in January of this year.
The forecast is an increase on the previous $150,000 prediction that Bernstein shared. Additionally, analysts expect BTC ETFs to account for almost 7% of the entire Bitcoin supply by the end of next year.
Source: Wealth Management
Also Read: MicroStrategy Buys Another 11,931 Bitcoin Worth $786M
Bernstein Increases BTC Projection for 2025
Despite a recent market downturn, Bitcoin is still trading at more than $65,000, according to CoinMarketCap. The asset has been one of the finance sector’s most talked-about facets following Spot ETF approval earlier this year. Moreover, the approvals led the token to reach an all-time high of $73,000 in March.
Yet, many firms expect that value to change. Specifically, Bitcoin is predicted to surge to $200,000 by 2025 according to Bernstein Analytics. The firm notes that ETFs will continue to be a game-changer for the leading cryptocurrency for the next calendar year.
Source: Watcher.Guru
Also Read: Ethereum: Bernstein Says ETH Will Hit $6,600 After ETF Approval
“We see Bitcoin ETFs as on the cusp of approvals at major wirehouses/ large private bank platforms in Q3/Q4,” analysts Gautam Chhugani and Mahika Sapra wrote. “The institutional basis trade looks like a ‘trojan horse’ for adoption, and these investors are in the process of evaluating ‘net long’ positions.”
The firm also notes that a total of $15 billion in net inflows have been brought in by BTC ETFs. Furthermore, they predict issuing firms to reach $190 billion in assets under management in the next year. However, they also predict that figure to reach a remarkable $3 trillion by 2033.