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Bitcoin Price Predicted to Reach $150,000 Following All-Time High
Fresh off a new all-time high price, Bitcoin is on its way to $150,000 per coin, according to global investment firm AllianceBernstein. In a recent note, the firm emphasized that the influx of cash into newly approved exchange-traded funds will play a crucial role in driving the value of Bitcoin even higher.
The firm had previously predicted in 2023 that Bitcoin would hit $150,000 by 2025. However, with the recent surge in price, hitting this milestone seems increasingly likely. Bitcoin recently reached a new all-time high, surpassing the $72,000 per coin mark, with the current price standing at $72,133, according to CoinGecko data.
According to Gautam Chhugani and Mahika Sapra, authors of the note, these are still the early stages of Bitcoin’s integration into traditional asset portfolios. They expressed confidence in their $150,000 price target for Bitcoin, highlighting the significant inflows of funds. The authors estimated $10 billion in inflows for 2024, with another $60 billion projected for 2025.
The approval of 11 spot Bitcoin ETFs by the U.S. Securities and Exchange Commission in January marked a significant milestone following years of efforts by prominent firms. These ETFs have been remarkably successful, attracting hundreds of millions of dollars in funds daily. Investors can now easily purchase Bitcoin through these ETFs via their brokerage accounts, eliminating concerns about asset storage.
AllianceBernstein also noted that IRAs, private banks, and traditional capital pools like sovereign wealth funds are yet to fully embrace Bitcoin exposure through ETFs. As these entities join the market, the value of the digital asset is poised to rise further. Additionally, the firm recommended investing in Bitcoin mining stocks as another lucrative option for investors seeking good returns.
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