Berstein wealth management company predicted the rise in the price of bitcoin to 150 thousand dollars by 2025, amid expectations that the US Securities and Exchange Commission will approve an exchange-traded bitcoin fund by the first quarter of 2024, according to CNBC.
The optimistic estimate is about 5 times the current price of about 34,000 dollars and more than double the all-time high of Bitcoin of more than 67,000 dollars, which was recorded in November 2021.
The company also expects that the approval of ETFs will transfer up to 10% of the circulating supply of Bitcoin towards ETFs.
“You may not like bitcoin as much as we do, but an honest view of bitcoin as a commodity, indicates a shift in the cycle,”chogani wrote.
“A good idea is good because it has to do with timing – it seems that ETFs approved by the Securities and Exchange Commission by the world’s leading asset managers have become imminent,”he added.
This prediction came in a memo where chogani started talking about several bitcoin mining companies, saying that the” halving ” of bitcoin in April 2024, where bitcoin bonuses will be halved as part of a planned and repeated event embedded in the base code of the coin, will eliminate losing mining companies, paving the way for significant gains for the survivors.
