Bernstein: Bitcoin's fundamentals have never been better
TechFlow news, according to CoinDesk, broker Bernstein said in a research report on Monday that bitcoin (BTC) is expected to become a global macro-political asset, with its market capitalization projected to grow to over $3 trillion by mid-2025.
Bernstein stated that the fundamentals of cryptocurrency have never been stronger, noting that 70% of the circulating supply has not transacted over the past year.
"More favorable accounting treatment based on the new Financial Accounting Standards Board (FASB) guidance will allow companies to mark their bitcoin holdings to market, and 'will favorably influence corporate preferences for holding bitcoin as a treasury asset, thereby creating a new source of demand from corporations,'" the report said.
Another driving factor is the approval of spot bitcoin exchange-traded funds (ETFs) listed in the U.S., which will make it easier for both institutions and retail investors to access cryptocurrencies.
