Bitcoin market may pause, but Bernstein says bull run is just warming up
“The confluence of adoption by banks, institutional investors, corporates, and eventually sovereigns (directly or via sovereign funds) is positioning Bitcoin as the clear challenger to gold,” the report stated.
Bitcoin has been on a tear since Bitcoin ETFs started trading a year ago. Following Trump’s election in November, the asset finally smashed through the long-awaited $100,000 mark. While prices have cooled slightly, Bitcoin is still up over 86% in the past year, trading at $95,313.
One of the most bullish signals? Abu Dhabi’s sovereign wealth fund has started buying Bitcoin through ETFs. Meanwhile, top institutions like Jane Street Group, Citadel Advisors, and Morgan Stanley have poured hundreds of millions of dollars into these funds. When Wall Street bigwigs start betting big, it’s usually a sign that the real action is just beginning.
Bernstein has previously predicted that Bitcoin could hit $200,000 by the end of 2025. If these institutions keep piling in, that forecast might not be far-fetched.
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RLUSDJUST IN: 🇺🇸 $725 billion Bernstein says the US could issue debt or sell some of its gold reserves to fund their #Bitcoin buys.
The number of institutional holders of the Bitcoin ETF is up 54.5X in the last 11 months 👀
