Bitcoin Set for 200% Jump by 2025, Says Top Investment Firm
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Bitcoin is preparing to break free from its stagnant phase. After seven months of sideways trading, is Bitcoin finally on the verge of a major breakout? Bernstein, a renowned investment firm, released a comprehensive report outlining reasons why Bitcoin could reach a new all-time high of $200,000 by the end of 2025. This projection is based on Bitcoin’s current price of approximately $68,000, suggesting a nearly 200% increase. Bitcoin has been sideways since March: BNC Bitcoin Liquid Index Bernstein analysts wrote that they believe Bitcoin will hit $200,000 by the end of 2025. And that’s being “conservative,” they said. “With accelerating institutional adoption, we expect Bitcoin to triple from here to attain a cycle-high price of $200,000 by 2025 end,” the report read. The report sparked a frenzy among billionaire investors, who are rapidly increasing their Bitcoin holdings. Hedge fund managers and tech entrepreneurs lead this charge, believing Bitcoin is set for a substantial rally following the 2024 presidential election. This growing interest among the ultra-wealthy raises the question: could Bernstein’s optimistic forecast be accurate? Michael Saylor, executive chairman of MicroStrategy, stands out as a prominent billionaire advocate for Bitcoin. At a Bitcoin conference in Nashville, Tennessee, this past summer, Saylor predicted Bitcoin could reach $13 million by 2045. His commitment to Bitcoin remains unwavering, with MicroStrategy now holding more than 1% of all Bitcoin in circulation. This aggressive investment strategy underscores his confidence in Bitcoin’s long-term potential. Billionaire Investment in Bitcoin Other tech magnates like Mark Cuban and Block’s CEO Jack Dorsey are increasingly investing in Bitcoin. Additionally, prominent Silicon Valley venture capitalists are venturing into this field, with some actively engaging in the 2024 presidential election campaigns. Jack Dorsey has boldly predicted Bitcoin’s price could soar to $1 million by 2030, indicating a strong belief in the cryptocurrency’s…
Filed under: News - @ October 27, 2024 10:47 pm