As a seasoned crypto investor with over a decade of experience navigating the volatile and ever-changing digital asset landscape, I find the recent predictions about Bitcoin (BTC) reaching $200,000 by 2025 to be both intriguing and plausible. The institutional shift towards BTC, as highlighted by reports such as Bernstein’s, is reminiscent of the dot-com boom in the late 90s, where traditional finance slowly but surely embraced internet companies.
Predictions suggest that the value of a single Bitcoin (BTC) could potentially reach up to $200,000 by December 2025, given its transition into a new phase of acceptance among institutions, as per a report published by Bernstein Research on October 22.
In a recent post on October 23rd on the X platform, Matthew Sigel, who heads digital asset research at VanEck, argued that Bernstein’s “Black Book” supports the idea that Bitcoin mining will lead to further consolidation within the industry.
According to a recent report, about $60 billion worth of assets are currently managed by ten global financial institutions in the form of regulated exchange-traded funds (ETFs), which was only $12 billion in September 2022.
“By 2024 end, we expect Wall Street to replace Satoshi as the top Bitcoin wallet,” Bernstein said.
Related: Bet more on the Bitcoin miners cashing in on AI
In 2024, Bitcoin has been a significant player in the ETF market, making up six out of the top ten most successful debuts as reported on the X platform by Nate Geraci, who is the president of The ETF Store, a financial advisory firm.
As a crypto investor, I’m finding an uptick in optimistic outlooks from institutional analysts like Bernstein, JP Morgan, and renowned hedge fund veteran Paul Tudor Jones, all pointing towards increased bullishness on Bitcoin leading up to the United States presidential election in November.
In response to escalating geopolitical conflicts and the associated risks, investors are increasingly favoring gold and Bitcoin as part of a “debasement strategy.” This move is seen as a precautionary measure against a potentially disastrous situation, according to JPMorgan’s October 3 report.
The increasing geopolitical conflicts and the upcoming U.S. election could strengthen the ‘debasement trade’ strategy, making it more advantageous to invest in both gold and Bitcoin, as suggested by a report recently released by JPMorgan and discussed on CryptoMoon.
The term “debasement trade” refers to a surge in gold demand due to various factors such as increased geopolitical uncertainties since 2022, ongoing doubts about the long-term inflation scenario, and worries about substantial government deficits in major economies, as JPMorgan explained.
On October 22nd, Jones, the founder of Tudor Investment Corporation, expressed his intent to invest in Bitcoin and other commodities, stating that they are his preferred choices due to an anticipated increase in inflation following the U.S. presidential election.
Jones mentioned on CNBC’s Squawk Box that he likely possesses a mix of gold, Bitcoin, commodities, and technology stocks (Nasdaq), and he doesn’t own any fixed-income investments,” (or)
In mid-2024, it’s predicted that Bitcoin miners will rebound following a downturn after the halving, due to the sector’s consolidation and capitalizing on increased energy demands from artificial intelligence, as suggested by Bernstein.
According to Bernstein’s statement, it is anticipated that Riot, ClearSpark, and Marathon will join forces and significantly impact the Bitcoin mining sector.
In simple terms, the Bitcoin network’s “halving” in April lowered the amount of Bitcoin received as a reward for mining each block from 6.25 Bitcoins to approximately 3.125 Bitcoins.
Meanwhile, the demand for AI-powered computational power is surging.
According to reports, Nick Hansen, the CEO of Luxor Mining Corporation, stated that miners could potentially make between $2 and $3 for each kilowatt-hour (kWh) of energy consumed by Artificial Intelligence (AI), whereas they currently earn around $0.15 to $0.20 per kWh from Bitcoin (BTC) mining.
As a crypto investor, I’ve noticed that some Bitcoin mining operations, such as Core Scientific, Hive Digital Technologies (HIVE), and Hut 8 (HUT), are exploring artificial intelligence (AI) as an additional income stream.
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2024-10-23 19:43