Bitcoin (BTC) is expected to emerge as a global macropolitical asset with a more-than $3 trillion market cap, quadrupling by mid-2025, broker Bernstein said in a research report Monday.
Bernstein says the cryptocurrency’s fundamentals have never looked better, noting that 70% of the outstanding supply hasn’t been traded in the past year.
“This is an all-time high in bitcoin’s history – these churn rates are extraordinary for a financial asset, particularly one known for its exponential moves driven by a supply squeeze,” analysts led by Gautam Chhugani wrote.
Another potential positive catalyst is the bitcoin halving, likely in April or May next year. According
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