A new Bitcoin report came from analysts led by Gautam Chhugani at Bernstein, which has $650 billion in assets under management.

Analysts claimed that the largest cryptocurrency could reach the level of 150 thousand dollars by 2025. Stating that investors will turn to Bitcoin as a safe haven, analysts also stated that Bitcoin is still in its early stages in terms of institutional investments.

The report also said that the US Securities and Exchange Commission (SEC) is expected to approve Bitcoin spot ETF applications by the first quarter of 2024:

“You may not like Bitcoin as much as we do, but a dispassionate view of Bitcoin as a commodity, suggests a turn of the cycle, A good idea is only as good as its timing – SEC approved ETFs by world’s top asset managers (BlackRock, Fidelity et al), seems imminent.”

Analysts have noted that the halving of Bitcoin in particular, which will halve miners’ rewards, will put many companies in difficulty, but those who survive this crisis will also make significant gains.

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