Bitcoin – The giant Berstein fund gives its prediction

Bitcoin – The giant Berstein fund gives its prediction
Bitcoin – The giant Berstein fund gives its prediction


7:00 p.m. ▪
3
min reading ▪ by
Nicholas T.

Investment fund Alliance Berstein sees bitcoin reaching $90,000 before the end of the year, and much higher in 2025.

$90,000 for 2024?

Bitcoin and Ethereum ETFs are expected to reach a market cap of $450 billion, Bernstein says.

“This would mean flows in excess of $100 billion over the next 18 to 24 months”declare analysts Gautam Chhugani and Mahika Sapra in a paper published this Tuesday.

This influx is attributed to increased interest from institutions and individuals. In question, regulatory clarity and the broader acceptance of bitcoin by traditional finance. Indeed, ETFs have already absorbed more than a million bitcoins. Morgan Stanley bank bought $250 million worth of it in the first quarter.

Berstein sees bitcoin reaching $90,000 by the end of the year and $150,000 in 2025. This is a similar prediction to that of Standard Chartered bank. The latter anticipates net flows between 50 and 100 billion dollars in 2024. That is to say, enough to reach 100,000 dollars this year and 200,000 dollars in 2025.

The giant fund has not revealed what Ethereum’s share of this 450 billion will be. Note, however, that ETH has appreciated more than 20% since we learned that the eight ETH ETFs will actually see the light of day. When ? We do not know yet.

Bernstein notes that Ethereum is the first proof-of-stake-based token to be approved as an ETF. “This has positive implications for other tokens like solana (SOL)”we can read in the report.

It remains to be seen whether Wall Street really has an appetite for the multitude of altcoins in circulation. In the meantime, bitcoin continues to appeal to multinationals as a treasury asset.

BlackRock has just revealed that it has purchased shares of its own ETF. Furthermore, Vanguard – the second largest fund in the world – has just hired a pro bitcoin CEO…

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Nicolas T. avatarNicolas T. avatar

Nicholas T.

Reporting on Bitcoin, “the goddess of wisdom, feeding on the fire of truth, exponentially growing ever smarter, faster, and stronger behind a wall of encrypted energy”.

DISCLAIMER

The comments and opinions expressed in this article are those of the author alone, and should not be considered investment advice. Do your own research before making any investment decisions.

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