As Bitcoin grows to new historical highs above $82,000, analysts at brokerage firm Bernstein have called for adding crypto assets to investment portfolios “as soon as possible,” The Block reports.
"Don't fight it. Welcome to the bull market. Buy everything you can," experts led by Gautam Chhugani wrote in a note to clients.
He called on all investors who had previously refrained from investing in crypto assets due to regulatory issues to change their minds after the US elections. The expert expects a crypto-friendly regulatory environment to emerge under Donald Trump, which will begin with the appointment of a new chairman of the US Securities and Exchange Commission.
In July, Trump, speaking at the annual Bitcoin 2024 conference, promised to fire the head of the regulator Gary Gensler and create a strategic bitcoin reserve. He will also “end the war on digital assets.” According to him, the United States will become the crypto capital of the world.
“The directional move is for Bitcoin to become a treasury asset held by corporations, governments and institutions. This seems clear to us,” Bernstein noted.
Among the bullish indicators, Chhugani also cited support for cryptocurrencies from Trump's team and supporters, as well as demand for spot Bitcoin ETFs, which have attracted about $4.7 billion in a few weeks.
What to buy?
Bernstein analysts recommended buying a basket of digital assets, including BTC, ETH, SOL, OP, ARB, POL, UNI, AAVE and LINK.
“We remain confident in our Bitcoin price target of $200,000 by the end of 2025. Even at $81,000 per coin (+87% YTD), we see a favorable risk-reward profile over the next year,” Chhugani said.
Let us recall that in September Bernstein predicted that the Bitcoin exchange rate would rise to $90,000 by the end of 2024 if Trump wins the election.
