Bitcoin reaching $200,000 in 2025 is a 'conservative' bet: Bernstein

of bitcoin price While they may have taken a hit in recent days, analysts at Bernstein still believe the major cryptocurrencies have 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 said: biggest digital coin It will reach $200,000 by the end of 2025.

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 are previously predicted Bitcoin could reach $150,000 in 2025 due to huge demand for newly approved spots Bitcoin Exchange Traded Fund (ETF) In the United States, Wednesday's report continued to argue that demand for these products will drive up asset values.

ETFs (traded on stock exchanges and allowing investors to purchase digital assets through their brokerage accounts) have been a huge success and are now available to institutions such as: morgan stanley You can touch Bitcoin safely.

Last week, the fund was run by Wall Street giants like BlackRock and Fidelity.topped with Despite being only $20 billion, the total inflow so far has been $20 billion. 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