Bernstein: Investors Should Be Prepared for Further Bitcoin Upside Move

BlockBeats News, February 18th, according to Decrypt's report, Bernstein stated in a research report on Monday that investors should be prepared for further gains in Bitcoin and related US stocks.

Analysts Gautam Chhugani, Mahika Sapra, and Sanskar Chindalia stated that the start of the Bitcoin bull market was due to the expectation and subsequent approval of a US Bitcoin spot ETF, followed by further market momentum from pro-cryptocurrency Donald Trump's election as US president. The report pointed out that with institutional funds continuing to flow into this space, the future upward trajectory will continue.

The analysts wrote: "The adoption of Bitcoin by banks, institutional investors, corporations, and eventually even sovereign nations (directly or through sovereign wealth funds) positions Bitcoin as a clear challenger to gold."

Since the start of Bitcoin ETF trading, the price of Bitcoin has reached a new all-time high. After President Trump's election, Bitcoin broke through the long-anticipated $100,000 mark.

Bernstein's analysts also noted that the Abu Dhabi sovereign wealth fund is very optimistic about Bitcoin's outlook through ETF purchases.

Bitcoin and Ethereum ETFs allow investors who were previously unable to access cryptocurrency to invest by purchasing fund shares that track the prices of these assets, and these funds trade on the US stock market.

Bernstein also revealed that data shows top institutions such as Jane Street Group, Citadel Advisors, and Morgan Stanley have purchased hundreds of millions of dollars' worth of ETF shares.