Bitcoin - The giant Berstein fund gives its prediction

The investment fund Alliance Berstein sees bitcoin reaching $90,000 before the end of the year, and much more in 2025.

$90,000 for 2024?

Bitcoin and Ethereum ETFs are expected to reach a market capitalization of $450 billion, Bernstein says.

“This would mean flows exceeding $100 billion over the next 18 to 24 months,” say analysts Gautam Chhugani and Mahika Sapra in a paper published this Tuesday.

This influx is attributed to increased interest from institutions and individuals. The reasons are regulatory clarity and the broader acceptance of bitcoin by traditional finance. In fact, ETFs have already absorbed more than a million bitcoins. Morgan Stanley bank bought $250 million worth in the first quarter.

Berstein sees bitcoin reaching $90,000 by the end of the year and $150,000 in 2025. This is a prediction similar to that of the bank Standard Chartered. The latter anticipates net flows between $50 billion and $100 billion in 2024. That is enough to reach $100,000 this year and $200,000 in 2025.

The giant fund has not revealed what Ethereum’s share of this $450 billion will be. However, it should be noted that ETH has appreciated by more than 20% since we learned that the eight ETH ETFs would indeed come into being. When? We do not know yet.

Bernstein notes that Ethereum is the first proof-of-stake-based token to be approved as an ETF. “This has positive implications for other tokens like solana (SOL),” the report reads.

It remains to be seen if Wall Street really has an appetite for the multitude of altcoins in circulation. In the meantime, bitcoin continues to attract multinationals as a treasury asset.

BlackRock has just revealed that it has bought shares of its own ETF. In addition, Vanguard—the second largest fund in the world—has just hired a pro-bitcoin CEO.