Analysts Predict Bitcoin's Price Surge to $200,000 by 2025

Analysts at research and brokerage firm Bernstein have outlined the key upcoming catalysts that could propel bitcoin’s price to their cycle target of $200,000 in 2025.

> “We are entering a stage, where we expect intrigue will turn to pain for the bitcoin bears,” analysts led by Gautam Chhugani said in a Monday note to clients. Bernstein set their latest bitcoin target in June when its price was around $66,000. “Bitcoin to $100K seems around the corner and our $200K bitcoin target [by the end of] 2025 now looks not as delusional,” the analysts said.

Key Political Appointments

Following Donald Trump’s U.S. presidential election win, his transition team has begun making nominations for top roles, including bitcoin advocates Robert F. Kennedy Jr. and Pete Hegseth for Secretary of Health and Secretary of Defense, respectively. However, the two most important crypto-related appointments are still to come:
– A new Securities and Exchange Commission Chair to replace Gary Gensler
– Trump’s nomination for Treasury Secretary

American investor and hedge fund manager Scott Bessent and Cantor Fitzgerald CEO Howard Lutnick, a Bitcoin advocate, are neck and neck for the Treasury Secretary pick, with Lutnick having a slight edge. Lutnick’s odds have increased following endorsements from Elon Musk and RFK Jr.

“Bitcoin is the currency of freedom…A remedy against the dollar’s downgrade from the world’s reserve currency,” RFK Jr. stated on X.

Bitcoin Strategic Reserve

Progress toward a bitcoin strategic reserve, or national bitcoin stockpile, as Trump pledged during the election campaign, is another key catalyst. Bernstein analysts believe political momentum toward its creation is underway, potentially requiring a longer legislative process. A draft BITCOIN Act bill has been introduced, planning for the U.S. to acquire up to 5% of bitcoin's total supply over five years — worth nearly $100 billion at current prices.

“Demand for bitcoin this cycle is led by institutions, corporates, and retail,” they noted.

Crypto Regulatory Changes

Trump’s broader crypto promises also play a critical role. Analysts highlight support for establishing the U.S. as a bitcoin mining powerhouse, improving mining energy policy, and regulatory frameworks for stablecoins and crypto oversight by CFTC instead of SEC.

“As [these] regulatory catalysts play out, we would expect newfound confidence in the crypto bull market,” they stated.

Demand Trends

Analysts highlighted the demand side, noting total bitcoin exchange-traded fund assets under management at $92 billion, with a weekly net inflow rate of around $1.7 billion. MicroStrategy’s purchases and plans to raise $42 billion for further acquisitions indicate substantial demand.

“We believe investors should continue holding bitcoin equity proxies for longer horizons ~12-18 months at least,” the analysts advised. Bitcoin is trading at $91,959, just 1.5% away from a fresh all-time high.

Gautam Chhugani maintains long positions in various cryptocurrencies. Bernstein and its affiliates may receive compensation for investment banking services from MicroStrategy.