Bitcoin’s price could surge to $150,000 by 2025, according to a new prediction by investment research firm Bernstein.

In a note to clients on Tuesday, Bernstein analyst Gautam Chhugani cited optimism around the potential approval of a Bitcoin exchange-traded fund (ETF) by the Securities and Exchange Commission (SEC) in the next two years.

According to a report from CNBC, Chhugani wrote in the note that he believes the SEC will likely approve a Bitcoin ETF in the first quarter of 2024. His prediction echoes that of JP Morgan analysts, who say there’s a 90% chance investors get an BTC fund before January 10.

Bernstein, along with most other Wall Street firms, had ruled out BTC as an investment asset in 2018. But the company was still paying attention by tracking Bitcoin mining companies and publishing its own take on the contagion that spread from firm to firm in mid-2022.

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Author: Decrypt AI, Edited by Stacy Elliot

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