Bitcoin recently crossed the $100,000 mark, reaching $104,088 on Binance, prompting analysts at Bernstein to foresee Bitcoin replacing gold as a safe-haven asset in a decade.
The trading firm, led by Gautam Chhugani, suggests Bitcoin will become a new 'store of value' and an essential component of institutional portfolios and corporate treasury management.
Bitcoin’s price surge follows Donald Trump's presidential victory, which is expected to benefit the crypto regulatory environment, resulting in a market cap increase to $3.9 trillion.
Bernstein forecasts that Bitcoin might reach $200,000 by 2025, echoing Capriole Investments' prediction, as its lower market cap allows rapid value changes.
Mainstream adoption, as noted by analyst Gil Luria, is driving Bitcoin’s success, although it still needs to gain acceptance as a medium of exchange.
Bitcoin is recognized mainly for its value storage capabilities, providing corporate balance sheet reliability with companies like Hut 8 and Rumble augmenting their reserves.
Depreciated Bitcoin reserves in exchanges contribute to supply scarcity, enhancing its price as it trades at $103,172 currently.
