{"id":184845,"date":"2023-11-01T05:06:50","date_gmt":"2023-10-31T23:36:50","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=184845"},"modified":"2023-11-01T05:06:50","modified_gmt":"2023-10-31T23:36:50","slug":"bitcoin-could-hit-150000-by-2025-says-formerly-bearish-wall-street-firm-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-could-hit-150000-by-2025-says-formerly-bearish-wall-street-firm-crypto-news\/","title":{"rendered":"Bitcoin Could Hit $150,000 by 2025, Says Formerly Bearish Wall Street Firm – Crypto News"},"content":{"rendered":"
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Bitcoin’s price could surge to $150,000 by 2025, according to a new prediction by investment research firm Bernstein.<\/p>\n

In a note to clients on Tuesday, Bernstein analyst Gautam Chhugani cited optimism around the potential approval of a Bitcoin exchange-traded fund (ETF) by the Securities and Exchange Commission (SEC) in the next two years.<\/p>\n

According to a report from CNBC<\/i><\/a>, Chhugani wrote in the note that he believes the SEC will likely approve a Bitcoin ETF in the first quarter of 2024. His prediction echoes that of JP Morgan analysts, who say there’s a 90% chance investors get an BTC fund before January 10<\/a>.<\/p>\n

Bernstein, along with most other Wall Street firms, had ruled out BTC as an investment asset in 2018. But the company was still paying attention by tracking Bitcoin mining companies<\/a> and publishing its own take<\/a> on the contagion<\/a> that spread from firm to firm in mid-2022.<\/p>\n

Now, the firm says, a Bitcoin ETF would allow mainstream investors to gain exposure to BTC directly from their portfolios for the first time via an SEC-regulated investment product. Currently, the only similar product is the Grayscale Bitcoin Trust (GBTC), which holds around 3% of outstanding BTC supply.<\/p>\n

The $150,000 target is nearly five times Bitcoin’s current price of around $34,000 and more than double its all-time high of $67,000 from November 2021. If realized, Bernstein’s lofty prediction would signify a massive turnaround for the cryptocurrency from its steep sell-off last year.<\/p>\n

Bitcoin has rallied recently, reaching $35,000 last week for the first time since May 2022. Investors are increasingly hopeful the SEC will approve a Bitcoin ETF after declining to appeal a court ruling in Grayscale’s lawsuit. However, SEC Chair Gary Gensler has been highly critical of the crypto industry, so whether regulators will embrace a Bitcoin ETF remains uncertain.<\/p>\n

Bernstein also noted the upcoming “halving<\/a>” event in 2024 will help boost BTC’s price by forcing out inefficient miners. The firm initiated coverage on several BTC mining stocks<\/a>, expecting the survivors to see significant gains.<\/p>\n

Editor\u2019s note: This article was written with the assistance of AI. Edited and fact-checked by Stacy Elliott<\/a>.<\/i><\/p>\n

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Stay on top of crypto news, get daily updates in your inbox.<\/h3>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin’s price could surge to $150,000 by 2025, according to a new prediction by investment research firm Bernstein. In a note to clients on Tuesday, Bernstein analyst Gautam Chhugani cited optimism around the potential approval of a Bitcoin exchange-traded fund (ETF) by the Securities and Exchange Commission (SEC) in the next two years. According to […]<\/p>\n","protected":false},"author":2,"featured_media":179775,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-184845","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/184845","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=184845"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/184845\/revisions"}],"predecessor-version":[{"id":184847,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/184845\/revisions\/184847"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/179775"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=184845"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=184845"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=184845"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}