200 thousand dollars for Bitcoin? Bernstein now says this could be "conservative".
Bernstein - one of the largest asset management companies in the world - has issued updated forecasts regarding Bitcoin.
It now says its original target of 200 thousand dollars for Bitcoin by late 2025 is likely too low, given the surge in demand for spot exchange-traded funds and the decreasing supply.
• More than 70 billion dollars have flowed into Bitcoin exchange-traded funds this year.
• The supply on trading platforms is nearing its all-time lows.
• Institutional buying is witnessing an increase from family offices and global funds.
• A lack of new supply could lead to significant price increases.
The price of Bitcoin has risen by more than 2% during the day to reach 71.6 thousand dollars.
A wave of positive predictions exploded on Twitter for cryptocurrencies, as Bernstein hinted that the price of Bitcoin could exceed 250 thousand dollars to 280 thousand dollars if macroeconomic conditions remain favorable.
Bernstein expects Bitcoin's role in long-term portfolios to grow steadily, especially as traditional markets look to digital gold status and enhance regulatory clarity.
