Bitcoin may have struggled to reclaim its position above the recently established all-time high of over $73,000, but prominent brokerage firm Bernstein remains optimistic about the asset’s future trajectory.
Bernstein further estimated that these regulated investment vehicles could collectively hold around $190 billion in assets by 2025, up from the current figure of around $60 billion. These analysts view the launch of the funds as a crucial event that will fuel traditional institutional capital into the crypto markets.
Bernstein’s report also states that bitcoin has entered a new bull market cycle driven by the recent halving event. At the same time, analysts expect new catalysts to emerge that will drive demand for the asset. After hitting a cycle-high of $200,000 by 2025, Bernstein said that BTC is likely to tap $1 million by 2033 while the ETFs designed to track the cryptocurrency will be equivalent to almost 15% of the total supply by the same year.This year, bitcoin has seen significant institutional funds pouring in.
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