Bernstein: Investors Should Be Prepared for Further Bitcoin Upside Move

On February 18th, as per Decrypt's report, Bernstein stated in a research report on Monday that investors need to be prepared for further surges in Bitcoin and related US stocks. Analysts Gautam Chhugani, Mahika Sapra, and Sanskar Chindalia pointed out that the commencement of the Bitcoin bull market was attributed to the anticipation and subsequent approval of a US Bitcoin spot ETF, and then there was further market impetus from pro-cryptocurrency Donald Trump's election as the US president. The report indicated that with institutional funds continuously flowing into this field, the future upward trend will persist. The analysts wrote: "The acceptance of Bitcoin by banks, institutional investors, corporations, and eventually even sovereign nations (either directly or through sovereign wealth funds) positions Bitcoin as a definite rival to gold." Since the initiation of Bitcoin ETF trading, the price of Bitcoin has achieved a new all-time high. After President Trump's election, Bitcoin broke through the long-awaited $100,000 mark. Bernstein's analysts also noted that the Abu Dhabi sovereign wealth fund is highly optimistic about Bitcoin's outlook through ETF purchases. Bitcoin and Ethereum ETFs enable 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 disclosed that data shows top institutions like Jane Street Group, Citadel Advisors, and Morgan Stanley have purchased hundreds of millions of dollars' worth of ETF shares.