Bernstein: Bitcoin Will Reach $200,000 Next Year

According to analysts at the research and brokerage firm Bernstein, the value of Bitcoin could potentially reach almost $200,000 by the end of next year due to significant investments in spot Bitcoin exchange-traded funds (ETFs) since their approval in January.

This is an increase from their previous forecast of $150,000. Their prediction is based on the belief that by the end of 2025, spot Bitcoin ETFs may account for approximately 7% of the total circulating Bitcoin supply.

The analysts, Gautam Chhugani and Mahika Sapra, explained in a note to clients that they expect major wirehouses and large private banks to approve Bitcoin ETFs in the third and fourth quarter of this year.

They also stated that institutional investors, who are currently in the process of evaluating their positions in the market, are a potential catalyst for adoption.