Bernstein, a renowned Wall Street research firm, has released a report predicting Bitcoin's (BTC) rise to $200,000 by the end of 2025. Notably, this projection excludes government demand, suggesting the potential for even higher prices if sovereign nations join the race to acquire BTC. According to the report, the increased demand from corporations and institutional investors will drive BTC's price surge. The firm highlights the growing share of the market held by long-term holders like MicroStrategy and Bitcoin ETFs, indicating a strengthening ownership distribution. Bernstein also anticipates a surge in corporate BTC holdings, exceeding $5 billion in inflows, along with substantial net inflows into spot ETFs estimated at over $7 billion. Hedge funds, banks, and asset managers are expected to amplify their allocation to BTC spot ETFs, reaching 40% in the coming years. The report further projects the continuation of ETF momentum, with SOL and others gaining traction. Additionally, the convergence of crypto and AI, as well as the passage of a stablecoin regulation bill, are anticipated. Regulatory tailwinds from the US and the potential pivot of Bitcoin miners to AI computing businesses are also forecasted.

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