Alliance Bernstein, a leading asset management firm in the world, expects Bitcoin’s price to reach 150,000 USD by 2025.
The analyst of the firm has predicted immediate approvals of spot bitcoin ETFs (exchange-traded funds) by the SEC or U.S. Securities and Exchange Commission (SEC), including the ones by leading asset management organizations such as Fidelity and Blackrock.
Alliance Bernstein: Bitcoin Could Reach $150K By 2025
The prediction was made by Gautam Chhugani, a senior analyst at Alliance Bernstein, who specializes in digital assets. This particular prediction is obviously driven by the positivity that the US-based SEC will approach the bitcoin ETFs soon.
The Bernstein analyst elaborated, “You may not like bitcoin as much as we do, but a dispassionate view of bitcoin as a commodity suggests a turn of the cycle.”
Any good idea is actually good when it fits the timing – the SEC-approved exchange-traded funds by the top asset managers in the world, like Fidelity and Blackrock, seem imminent.
Chhugani also explained that after the halving of the upcoming Bitcoin next year’s April, “losing miners will be washed out” to create favorable situations for significant revenue among all the remaining participants.
Meanwhile, the asset management company expects that spot Bitcoin exchange-traded funds approvals would easily move up to ten percent of the circulating supply of Bitcoin into ETFs. Currently, the only product similar to this is GBTC or Grayscale’s Bitcoin Trust.
But, the crypto asset manager has actually filed with the SEC for converting GTBC to a particular spot bitcoin ETF.
Initially, the SEC rejected the proposal, but later, a court ruled in absolute favor of the cryptocurrency firm, ordering the regulator to actually reevaluate the application of the firm.
Only last week, Bernstein mentioned how a spot bitcoin exchange-traded fund in January the following year appears to be a ‘done deal’ of sorts. Some analysts, including the ones at JPMorgan, are currently expecting the SEC to give approval for several spot bitcoin exchange-traded funds at once.
Bitcoin prices increased last week on speculation that the largest asset manager in the world, Blackrock, is very close to releasing its spot bitcoin exchange-traded funds.
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