Odaily Planet Daily News According to a recent report from global investment firm Bernstein, investors should prepare for further gains in Bitcoin-related assets and stocks. Analysts pointed out that the Bitcoin bull market will continue as institutional funds continue to flow into the field.
The report said: "The joint adoption of banks, institutional investors, companies, and sovereign states (directly or through sovereign funds) makes Bitcoin a clear challenger to gold." The analyst added that the Abu Dhabi sovereign wealth fund's purchase of Bitcoin through ETFs is beneficial to its future trend.
The data disclosed by it showed that top institutions including Jane Street Group, Citadel Advisors and Morgan Stanley have purchased hundreds of millions of dollars in Bitcoin ETFs. Bernstein analysts previously predicted that Bitcoin will reach $200,000 by the end of 2025. (Decrypt)