The price of Bitcoin (BTC) could go as high as $200,000 by the end of 2025 as the cryptocurrency enters “a new institutional era,” according to an Oct. 22 report by Bernstein Research.
Bernstein’s 160-page “Black Book” makes the case for why Bitcoin miners will continue to consolidate the industry, Matthew Sigel, VanEck’s head of digital asset research, said in an Oct. 23 post on the X platform.
“Ten global asset managers now own ~$60Bn wrapped as regulated [exchange-traded funds] compared with $12Bn in September 2022,” according to the report.
“By 2024 end, we expect Wall Street to replace Satoshi as the top Bitcoin wallet,” Bernstein said.
Top ETF launches in 2024. Source: The ETF Store
Bitcoin has dominated the ETF landscape this year, comprising six of the top 10 most successful launches in 2024, according to a post on the X platform by Nate Geraci, president of The ETF Store — an investment adviser.
Institutional analysts, including Bernstein, JP Morgan and hedge fund veteran Paul Tudor Jones, are increasingly bullish on BTC ahead of the United States presidential election in November.
Investors are turning toward gold and BTC in a “debasement trade” as they brace for a “catastrophic scenario” amid rising geopolitical tensions, JPMorgan said in an Oct. 3 report.
“Rising geopolitical tensions and the coming [United States] election are likely to reinforce the ‘debasement trade’ thus favoring both gold and Bitcoin,” according to the report, which JPMorgan shared with Cointelegraph.
The so-called debasement trade refers to a spike in gold demand caused by factors ranging from “structurally higher geopolitical uncertainty since 2022, to persistent high uncertainty about the longer-term inflation backdrop, to concerns about […] persistently high government deficits across major economies,” JPMorgan said.
On Oct. 22., Jones, who founded the hedge fund Tudor Investment Corporation, said he is longing Bitcoin and other commodities because “all roads lead to inflation” after the US presidential election.
“I probably have some basket of gold, Bitcoin, commodities and…
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