In a published note, Bernstein stated its forecast of $200,000 by 2025 and said that Bitcoin should soon hit the $100,000 milestone. Currently trading above $90,000, Bitcoin has seen a strong rise since the election of Donald Trump as US president, supported by expectations of greater regulatory flexibility.
Future appointments to important roles, including the Secretary of the Treasury and the new chairman of the SEC (US Securities and Exchange Commission), were cited by the brokerage as fundamental elements for the cryptocurrency market.
Bernstein also emphasized the US’s progress in creating a Bitcoin reserve, despite the fact that he recognized the legislative process might take a long time.
The broker believes that after being driven by corporations and retail at first, this cycle will shift to sovereign leadership, supported by deregulation and CBDCs’ (central banks’) opposition to digital currencies.
In order to further boost institutional and governmental demand for digital assets, the Donald Trump administration committed to expand Bitcoin mining in the United States, improve token registration, and support stablecoin regulation.
source: Lnginnorthernbc
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