Bernstein says the approval of a spot BTC ETF could lift Bitcoin’s price to $150,000 by 2025, and El-Erian says the top crypto is gaining safe haven status amid rising geopolitical uncertainty.
- Nashville-based international asset manager AllianceBernstein Holding L.P., better known as Bernstein, has become the latest firm to say that Bitcoin is due for a significant rally in the near future, predicting the top crypto could rise to $150,000 by 2025.
The optimistic price target for BTC represents a nearly five-fold increase from its current price of $34,350 and is more than double Bitcoin’s all-time high of $68,790, which was set on November 10, 2021. In December, GBTC hit a negative premium of 48.57% and struggled to gain any ground until BlackRock filed its spot BTC ETF application in June. GBTC currently trades at a negative premium of 13.12%, according to data provided by Coinglass.
While speaking with CNBC on Tuesday, El-Erian said that U.S. Treasury bonds have fallen out of favor in the wake of the Israel-Hamas conflict, which has boosted Bitcoin’s stature as a reliable store of value.
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