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Bitcoin’s price could potentially reach $200,000 by the end of 2025, according to a report by Bernstein Research. The report suggests that Bitcoin miners will shape the industry’s future and ten global asset managers currently hold around $60Bn in regulated exchange-traded funds (ETFs). Furthermore, other financial institutions and hedge fund pros confirm major positive signs for Bitcoin approaching the US presidential election. The report also anticipates Bitcoin miners bouncing back as demand for AI-powered computational power increases. Notably, several Bitcoin miners are utilising AI to generate additional revenue.

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So, the latest buzz is that Bitcoin’s price could skyrocket to a whopping $200,000 by the end of 2025! According to a report by Bernstein Research, we’re heading into a new phase where institutions are getting serious about crypto.

Check this out: Bernstein’s comprehensive “Black Book” suggests that Bitcoin miners are going to significantly shape the industry’s future. Matthew Sigel, the head of digital asset research at VanEck, shared this in a post.

The report also highlights that ten global asset managers are now holding around $60Bn in regulated exchange-traded funds. That’s a massive jump from $12Bn in September 2022!

Bernstein even predicts that by the end of 2024, Wall Street could be the top Bitcoin wallet. You got it right, even beating Satoshi!

The story of Bitcoin’s rise doesn’t stop there. This year, Bitcoin has been leading the ETF sector with six of the top ten most successful launches, according to Nate Geraci, president of The ETF Store.

We’ve got institutions like Bernstein, JP Morgan and hedge fund pros pointing at major positive signs for Bitcoin leading up to the US presidential election in November. Many believe that investors will likely turn to Bitcoin and gold in anticipation of a potential “worst-case scenario” due to the increasing geopolitical tensions.

So, what’s this ‘debasement trade’ they’re talking about? Basically, it’s when the demand for gold increases because of insecurities – chilling geopolitical climate since 2022, concerns about long-term inflation, or even worries over high government deficits across major economies.

Hedge fund legend Paul Tudor Jones is on too, saying that he’s betting on Bitcoin and other commodities because after the US presidential election, “all roads lead to inflation”, as he put it. And talking about investments, he’s all about a basket of gold, Bitcoin, commodities and Nasdaq tech stocks, and zero fixed income.

While Bitcoin value goes up, Bitcoin miners are expected to bounce back from a mid-2024 slump. The industry’s consolidation and the rising demand for AI-powered computational power will likely lead the recovery.

Nick Hansen, CEO of mining firm Luxor, even stated that miners could earn $2 to $3 from AI per kilowatt hour of energy used, which is way above the $0.15 to $0.20 earned from Bitcoin mining.

Oh, and some Bitcoin miners, like Core Scientific, Hive Digital Technologies and Hut 8, are using AI to rake in some extra cash! So, grab your popcorn and seat belts, because the ride with Bitcoin is just getting started!

Source: Cointelegraph