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Formerly Bearish Wall Street Firm Predicts Bitcoin’s Soaring Potential: Could Reach $150,000 by 2025

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“Formerly skeptical Wall Street firm predicts Bitcoin’s meteoric rise to $150,000 by 2025, signaling a potential paradigm shift in the financial landscape.”

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, 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.

The prediction aligns with that of JP Morgan analysts, who also believe there’s a high chance of a Bitcoin ETF being approved before January 10. The approval of a Bitcoin ETF would allow mainstream investors to gain exposure to BTC directly from their portfolios for the first time through an SEC-regulated investment product. Currently, the only similar product is the Grayscale Bitcoin Trust (GBTC).

Bernstein, like many other Wall Street firms, had previously dismissed BTC as an investment asset. However, the company has been paying attention to Bitcoin mining companies and the contagion that spread across firms in mid-2022.

The $150,000 target represents a significant increase from Bitcoin’s current price and its all-time high. This prediction, if realized, would mark a massive turnaround for the cryptocurrency after its sell-off last year.

Recent rallies in Bitcoin’s price have raised hopes among investors that the SEC will approve a Bitcoin ETF. However, SEC Chair Gary Gensler’s criticism of the crypto industry leaves uncertainty regarding the regulators’ stance on a Bitcoin ETF.

Bernstein also noted the upcoming “halving” event in 2024, which is expected to boost BTC’s price by forcing out inefficient miners. The firm initiated coverage on several BTC mining stocks, anticipating significant gains for the survivors.

It’s important to note that this article was written with the assistance of AI and has been edited and fact-checked by Stacy Elliott.

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