1 Super Cryptocurrency Could Soar to 200,000 by 2025, According to a Wall Street Analyst.

Bernstein senior analyst Gautam Chhugani believes the price of Bitcoin could reach 150,000 by mid-2025.
Standard Chartered analyst Geoff Kendrick believes Bitcoin could hit 200,000 by the end of 2025.
The SEC s recent approval of spot Bitcoin ETFs and the impending halving event could materially boost demand for Bitcoin.
Today s Change.
Current Price.
Price as of July 29, 2024, 2 53 p.
Some Wall Street analysts believe a combination of catalysts could push the price of Bitcoin much higher in the coming months.
The price of Bitcoin BTC -1.
24 has rocketed by 65 to about 68,000 since the beginning of 2024.
But certain Wall Street analysts still see a substantial upside in the cryptocurrency.
Gautam Chhugani at Bernstein believes Bitcoin will reach 150,000 by mid-2025, implying that its price will soar by 120 or 82,000 during the next 12 to 18 months.
Similarly, Geoff Kendrick at Standard Chartered Bank believes Bitcoin could reach 200,000 by the end of 2025, implying that its price could soar by 194 or 132,000 during the next 21 months.
Ultimately, cryptocurrencies are no different than any other asset.
Their prices are a product of supply and demand.
However, the total possible Bitcoin supply is limited to 21 million coins, and 19.
7 million 94 of them are already in circulation.
That means demand is the most consequential variable where Bitcoin is concerned.
With that in mind, Chhugani and Kendrick believe two catalysts will turbocharge Bitcoin demand in the coming months the recent approval of spot Bitcoin exchange-traded funds ETFs and the halving event next month.
Spot Bitcoin ETFs should bring more investors to the market.
In January, the Securities and Exchange Commission SEC approved 11 spot Bitcoin ETFs, which differ from the Bitcoin futures ETFs that started trading in 2021.
Specifically, spot Bitcoin ETFs track Bitcoin prices precisely because they invest directly in the cryptocurrency.
Bitcoin futures ETFs do not track Bitcoin prices as precisely because they invest in futures contracts — agreements to buy or sell assets at agreed-upon prices on predetermined dates.
Investors can see that dynamic in action by observing the performance of the ProShares Bitcoin Strategy ETF , the largest Bitcoin futures ETF.
While Bitcoin gained about 200 since the start of 2023, the ProShares Bitcoin Strategy ETF is up only 123 in that period.
In short, spot Bitcoin ETFs reduce friction.
They offer direct exposure to Bitcoin without the hassle of cryptocurrency exchanges and blockchain wallets.
Instead, investors can effectively purchase Bitcoin through existing brokerage accounts and hold it alongside other assets in their portfolios.
That convenience could bring more retail traders and institutional investors into the crypto market.
In fact, that seems to be happening already.
The spot Bitcoin ETFs issued by BlackRock and Fidelity ranked as the two most successful ETF launches in history, according to Bloomberg Intelligence.
They accumulated more assets during their first months of trading than the other 5,500 ETFs that launched in the past 30 years.
That screams demand.
Looking ahead, Chhugani believes those products will lead to unprecedented institutional adoption of Bitcoin.
That is particularly auspicious because PwC estimates that institutional assets under management will reach 145 trillion by 2025.
If even a small fraction of that total is allocated to Bitcoin, its price could rocket much higher.
In that context, Bitcoin reaching 150,000 by mid-2025 or 200,000 by the end of 2025 is a plausible outcome.
Bitcoin mining rewards will be cut in half in April 2024.
As mentioned, the total supply of Bitcoin that can ever be mined is capped at 21 million coins.
That feature has helped Bitcoin fans promote its reputation as a type of digital gold, simply because gold also derives value from its scarce supply.
Halving events are part of the mechanism that enforces the Bitcoin supply limit.
Specifically, each time 210,000 blocks are added to the Bitcoin blockchain, the rewards miners get for validating transactions are cut in half.
This happens about once every four years.
The next halving is forecast to occur on April 16.
That event should effectively boost demand by blunting selling pressure, simply because miners will have 50 less newly mined Bitcoin to sell during the next four years.
So far, Bitcoin has always gained value during the two-year period after a halving.
Bitcoin Return 2 Years Later.
1 Super Cryptocurrency Could Soar to 200,000 by 2025, According to a Wall Street Analyst.
Bernstein senior analyst Gautam Chhugani believes the price of Bitcoin could reach 150,000 by mid-2025.
Standard Chartered analyst Geoff Kendrick believes Bitcoin could hit 200,000 by the end of 2025.
The SEC s recent approval of spot Bitcoin ETFs and the impending halving event could materially boost demand for Bitcoin.
Today s Change.
Current Price.
Price as of July 30, 2024, 6 31 a.
Some Wall Street analysts believe a combination of catalysts could push the price of Bitcoin much higher in the coming months.
The price of Bitcoin BTC -4.
43 has rocketed by 65 to about 68,000 since the beginning of 2024.
But certain Wall Street analysts still see a substantial upside in the cryptocurrency.
Gautam Chhugani at Bernstein believes Bitcoin will reach 150,000 by mid-2025, implying that its price will soar by 120 or 82,000 during the next 12 to 18 months.
Similarly, Geoff Kendrick at Standard Chartered Bank believes Bitcoin could reach 200,000 by the end of 2025, implying that its price could soar by 194 or 132,000 during the next 21 months.
Ultimately, cryptocurrencies are no different than any other asset.
Their prices are a product of supply and demand.
However, the total possible Bitcoin supply is limited to 21 million coins, and 19.
7 million 94 of them are already in circulation.
That means demand is the most consequential variable where Bitcoin is concerned.
With that in mind, Chhugani and Kendrick believe two catalysts will turbocharge Bitcoin demand in the coming months the recent approval of spot Bitcoin exchange-traded funds ETFs and the halving event next month.
Spot Bitcoin ETFs should bring more investors to the market.
In January, the Securities and Exchange Commission SEC approved 11 spot Bitcoin ETFs, which differ from the Bitcoin futures ETFs that started trading in 2021.
Specifically, spot Bitcoin ETFs track Bitcoin prices precisely because they invest directly in the cryptocurrency.
Bitcoin futures ETFs do not track Bitcoin prices as precisely because they invest in futures contracts — agreements to buy or sell assets at agreed-upon prices on predetermined dates.
Investors can see that dynamic in action by observing the performance of the ProShares Bitcoin Strategy ETF , the largest Bitcoin futures ETF.
While Bitcoin gained about 200 since the start of 2023, the ProShares Bitcoin Strategy ETF is up only 123 in that period.
In short, spot Bitcoin ETFs reduce friction.
They offer direct exposure to Bitcoin without the hassle of cryptocurrency exchanges and blockchain wallets.
Instead, investors can effectively purchase Bitcoin through existing brokerage accounts and hold it alongside other assets in their portfolios.
That convenience could bring more retail traders and institutional investors into the crypto market.
In fact, that seems to be happening already.
The spot Bitcoin ETFs issued by BlackRock and Fidelity ranked as the two most successful ETF launches in history, according to Bloomberg Intelligence.
They accumulated more assets during their first months of trading than the other 5,500 ETFs that launched in the past 30 years.
That screams demand.
Looking ahead, Chhugani believes those products will lead to unprecedented institutional adoption of Bitcoin.
That is particularly auspicious because PwC estimates that institutional assets under management will reach 145 trillion by 2025.
If even a small fraction of that total is allocated to Bitcoin, its price could rocket much higher.
In that context, Bitcoin reaching 150,000 by mid-2025 or 200,000 by the end of 2025 is a plausible outcome.
Bitcoin mining rewards will be cut in half in April 2024.
As mentioned, the total supply of Bitcoin that can ever be mined is capped at 21 million coins.
That feature has helped Bitcoin fans promote its reputation as a type of digital gold, simply because gold also derives value from its scarce supply.
Halving events are part of the mechanism that enforces the Bitcoin supply limit.
Specifically, each time 210,000 blocks are added to the Bitcoin blockchain, the rewards miners get for validating transactions are cut in half.
This happens about once every four years.
The next halving is forecast to occur on April 16.
That event should effectively boost demand by blunting selling pressure, simply because miners will have 50 less newly mined Bitcoin to sell during the next four years.
So far, Bitcoin has always gained value during the two-year period after a halving.
Bitcoin Return 2 Years Later.