Bernstein analysts update forecast for bitcoin growth

Bernstein analysts have updated their forecast for the value of bitcoin BTC $97,815.38 Bitcoin 0.91% Market capitalization $1.94 trillion VOL. 24 hours $5.32 billion , predicting that its price could reach $ 200,000 by the end of 2025. According to them, the forecast is «conservative.» Gautam Chhugani, head of digital assets at Bernstein, noted that the rise in the value of bitcoin could be a reaction to the increase in the US national debt, which currently stands at $ 35 trillion, and the threat of inflation, The Block reports.

Chhugani emphasized that bitcoin, with its limited issue, is an attractive asset for investors looking for protection against inflation. «If you like gold, you should like bitcoin even more,» he said.

For those who don’t want to invest directly in bitcoin, the analyst recommends paying attention to the shares of MicroStrategy, the company that is the largest corporate owner of the flagship crypto asset. He also suggests investing in crypto services provided by the Robinhood platform or in shares of mining companies Riot Platforms, CleanSpark, and Core Scientific. The latter, according to Chhugani, remains undervalued, especially given the $ 2 billion expansion of cooperation with CoreWeave, which has reserved all the capacity for artificial intelligence computing.

Earlier, Bernstein analysts linked the rise in bitcoin’s price to the increased chances of Donald Trump winning the US presidential election. Other analysts, including those from Matrixport, also believe that Trump’s chances will contribute to further growth of bitcoin, predicting that it will reach $ 70,000 by the end of this year.