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Bernstein: Bitcoin, Will Overthrow the Throne of Gold in the Next 10 Years - Coin Bulletin
According to a statement by Bernstein, Bitcoin's recent rise positions it as a new store of value that will replace gold in the global economy.
Bernstein analyst Gautam Chhugani said, “Our belief in Bitcoin is beyond the cyclical fluctuations in the markets.” Chhugani predicts that Bitcoin will reach $200,000 by the end of 2025.
Chhugani said, "We expect Bitcoin to emerge as a new generation 'store of value' asset, replacing gold in the next decade, gaining a permanent place in institutional portfolios, and becoming the standard for corporate treasury management."
How did ETFs affect the perception of Bitcoin?
Bernstein noted that ETFs offer a more convenient way for traditional investors to hold Bitcoin, thereby boosting Bitcoin's appeal as a "store of value". In addition, the updated guidelines from the Financial Accounting Standards Board (FASB) are accelerating the adoption of holding Bitcoin in companies' balance sheets.
Chhugani said, "We expect a new demand increase from corporate treasuries in the future. Today, MicroStrategy and a few smaller companies are leading this demand."