Bitcoin to hit a cycle

-- Bitcoin's ascent to $100,Formal foreign exchange platform in 2022000 marks a pivotal moment for cryptocurrency, but Bernstein analysts believe this milestone is only the beginning.

The firm projects will reach a cycle-high of $200,000 by late 2025, fueled by regulatory clarity and growing institutional adoption.

The recent nomination of crypto advocate Paul Atkins as SEC Chair under President-elect Trump signals a pro-crypto regulatory shift. Bernstein highlights that Atkins' tenure could end the "regulation by enforcement" era, attracting blockchain innovation back to the U.S. and fostering broader acceptance of digital assets.

They note: "Paul Atkins, a former SEC Chair (2002-2008) is a known advocate for crypto & blockchain technology. He is also the co-chair of the Token Alliance, part of the Chamber for Digital Commerce, focused on digital asset regulation."

Bernstein adds that Bitcoin's designation as a commodity and the approval of spot Bitcoin ETFs—following the SEC vs. Grayscale verdict—have solidified its status.

With ten global asset managers now running $100 billion in Bitcoin ETFs, including BlackRock (NYSE:)'s $50 billion IBIT fund, Bitcoin's institutional adoption is surging.

Corporations like MicroStrategy, with over $40 billion in Bitcoin holdings, are increasingly embracing it as a treasury asset.

In the long term, Bernstein envisions Bitcoin replacing gold as the premier "store of value" asset. They foresee its integration into institutional multi-asset allocations and corporate treasury strategies, fundamentally transforming its role in global finance.

Despite cyclical fluctuations, Bernstein remains confident in Bitcoin's growth trajectory, citing its utility and regulatory developments as catalysts for its unprecedented rise.

"We remain convinced $100,000 is not the final milestone. We expect Bitcoin to hit a cycle-high of $200,000 in late 2025," concludes Bernstein.

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