Bernstein’s digital assets team just tossed another grenade into the crypto world. Analysts dropped a “conservative” $200,000 bitcoin price target for the end of 2025, raising more than a few eyebrows. Gautam Chhugani, their lead crypto strategist, fired off a message to clients saying skeptics might want to rethink their stance.
The game-changer here? It’s all about scarcity. Chhugani pointed out that bitcoin’s fixed supply might become a favorite in a world bursting with U.S. debt—currently sitting at a whopping $35 trillion. In a universe where inflation remains a serious boogeyman, bitcoin’s “store of value” appeal is only getting stronger. Gold bugs, take note. If you love gold, Chhugani says you’ll adore bitcoin.
Institutional Buy-In and Blackbook: Big Players Enter
Bernstein’s latest weapon of persuasion, the “Bitcoin Blackbook,” aims to convince big institutional players to jump into the game. But for those still too shy to hold bitcoin directly? Chhugani suggested an alternative strategy: snagging shares in MicroStrategy or Robinhood. MicroStrategy, holding the world’s biggest bitcoin corporate stash, has become a poster child for institutional bitcoin believers. Robinhood, meanwhile, keeps pushing deeper into crypto waters.
But it’s not just about owning bitcoin. Chhugani also turned the spotlight onto U.S.-listed firms like Riot Platforms and CleanSpark. These companies are quietly hoarding gigawatts of power for mining, creating a different kind of treasure map. And then there’s Core Scientific, a miner that’s playing both the bitcoin and AI hosting game. That dual-wielding strategy is quickly turning heads.
Core Scientific: Bitcoin and AI, a Power Combo?
Core Scientific, one of the giants in the bitcoin mining world, just locked in a huge AI hosting extension with CoreWeave. Their deal now stretches to 12 years and $8.7 billion in value, and with about 500MW of capacity, they’ve secured a strong grip on the AI-hosting game. The Bernstein crew isn’t shy about their admiration for CORZ. They even slapped an “outperform” rating on it and set a $17 price target. After all, the stock’s already rocketed 147% this year alone. It’s about time the market caught up to its real value, right?
Bitcoin’s trading at $66,393, still feeling the burn from March’s peak but up 57% this year.
Leave a Reply
You must be logged in to post a comment.