According to global investment firm AllianceBernstein, Bitcoin is heading towards an all-time high of $150,000 per coin.
In a note on Monday, the company said Bitcoin’s value would continue to rise as massive amounts of cash flowed into its newly authorized exchange-traded fund.
The company predicted last year that Bitcoin would reach $150,000 by 2025. I now believe I have a much better chance of achieving the milestone.
bitcoin set price It hit a new all-time high this morning, surpassing $72,000 per coin. According to data from CoinGecko, the BTC price is currently at $72,133.
“We are in the early stages of Bitcoin’s integration into traditional asset portfolios,” the note from Gautam Chhugani and Mahika Sapra wrote. “We are now more confident about Bitcoin’s $150,000 price.”
“We estimate additional inflows of $10 billion in 2024 and $60 billion in 2025,” they continued. “Bitcoin ETF inflows have already exceeded $9.5 billion in the past 40 trading days since the ETF’s launch on January 10.”
Approved by the U.S. Securities and Exchange Commission (SEC) 11 Spot Bitcoin ETFs in January after a decade of attempts by high-profile companies. They have been incredibly successful, with hundreds of millions of dollars flowing in every day.
Currently traded on stock exchanges, Bitcoin ETFs allow investors to purchase the digital asset through a brokerage account without having to worry about storing the assets.
Bernstein went on to argue that traditional capital pools such as IRAs, private banks and government bonds do not yet have exposure through ETFs. If that happens, asset values can continue to rise.
Another good way for investors to see good returns is to buy Bitcoin mining stocks, the company added.
Edited by Ryan Ozawa.
