Cryptocurrency is currently quoted at US$90 thousand; increase is supported by expectations of greater regulatory flexibility
In a released note, Bernstein stated that it should reach the US$100,000 mark soon and reinforced its projection of US$200,000 by 2025.
Currently quoted above US$90,000, it has seen a strong rise since the election of Donald Trump as US president, supported by expectations of greater regulatory flexibility.
The broker pointed to future appointments for key positions, such as the new chairman of the SEC (US Securities and Exchange Commission) and the Secretary of the Treasury, as fundamental elements for the crypto market.
“We believe the SEC chairman and Treasury secretary will be filled by pro-crypto names, which should keep the market optimistic no matter who is chosen,” analysts said.
Bernstein also highlighted progress in the US towards establishing a Bitcoin reserve, although it acknowledged that the legislative process could be lengthy.
“For us, demand for Bitcoin this cycle is led by institutions, enterprises and retail investors,” analysts said, noting that market indicators show a shift towards broader interest from institutions and even governments in the asset.
The broker projects that this cycle, initially driven by retail and corporations, will transition to sovereign leadership, reinforced by deregulation and resistance to digital currencies from CBDCs (central banks).
The Trump administration’s promises include encouraging Bitcoin mining in the US, simplifying token registration and supporting the regulation of stablecoins, measures that should further stimulate institutional and government demand for digital assets.
With information from
