In this era, bitcoin (BTC) would cease to be controversial, but would gain widespread acceptance.
Bernstein maintains his bitcoin projection at $200,000 this year.
According to the investment company Bernstein, the bitcoin (BTC) and cryptocurrency market enters what it considers “the era of infinity” this year. This is stated in a new note this week, where he reveals multiple predictions he has for this industry in 2025.
According to Bernstein analysts, the age of infinity is “a long period marked by relentless evolution and widespread acceptance, leading to a point where cryptocurrencies are no longer controversial, but part of the financial system built for them.” the new intelligent era.
“Cryptocurrencies are now firmly on the radar of corporations, banks and institutions, entering the very fabric of our financial systems,” they added the company’s analysts.
Under this panorama, from Bernstein reiterate their target price of bitcoin at 200,000 dollars (USD) by the end of 2025as they had indicated months before. In addition, they predict that it will reach USD 500,000 by 2029 and USD 1 million by 2033. All of this in bullish trends separated by bearish periods in between.
As shown in the following graph, they base this projection on the bullish cycles that bitcoin always had every four years around its halving. This event reduces the issuance of BTC by half every four years, which favors its price increase due to demand.

Bernstein’s Current Bullish Expectations occur amid growing institutional demand for bitcoin and growing government adoption narrative. The latter arises from US President-elect Donald Trump’s campaign promise to integrate BTC into national reserves.
“A national bitcoin reserve announcement by the United States would trigger a global sovereign race to acquire bitcoin among nation-states,” says Gautam Chhugani, an analyst at the company. However, he clarifies that his price prediction for this year does not include this possibility, but only institutional and corporate demand.
Large institutional purchases of bitcoin are coming
For investment company analysts, It is not certain that the purchase of national states will begin this year as a legislative priority. But, they project a growth in corporate purchases that promotes the price increase, with receipts of more than USD 50,000 million in 2025, more than the USD 24,000 million seen in 2024.
They see MicroStrategy likely to once again lead corporate demand, followed by bitcoin mining companies and small and mid-cap companies following the Michael Saylor model.
MicroStrategy, Michael Saylor’s software company famous for being the company with the most bitcoin in the world, currently holds 447,470 BTC. And it plans to add more holdings in the currency this year and beyond.

In line with this, another Bernstein prediction for 2025 is that bitcoin exchange-traded funds (ETFs) in the United States will attract more than USD 70 billion. This estimate, which represents double what they recorded during 2024, builds on growing institutional adoption by hedge funds, banks and wealth advisors.
“As corporate treasuries and bitcoin ETFs become a larger part of bitcoin ownership, we expect this to become more stable,” the analysts say.
Therefore, they predict that the longer the BTC price spends below USD 100,000, will change hands between traders/sellers to long-term holderssuch as MicroStrategy and bitcoin ETF holders.
The company also estimates that demand for ether (ETH) ETFs, the Ethereum cryptocurrency, will grow in the United States this year. In fact, they consider that this crypto asset will become the next “institutional favorite” in 2025, despite its poor performance last year.
It argues that 28% of ETH is staked, while 3% is absorbed by ETFs and 7.5% is locked in smart contracts. In his view, these factors, while it is in limited supply and continues to be useful as a fee payment and collateral asset in layer 1 and 2 chains, drive its appeal.
There will be positive regulatory winds
Continuing with its projections, it also hopes that the Securities and Exchange Commission (SEC), the US regulator, will allow the launch of Solana (SOL) towards the end of the year.
For the company, there will be a more favorable SEC for the industry that withdraws or resolves existing cases with cryptocurrency companies and allows more to enter the public market, with launches acting as additional positive catalysts for the market.
Bernstein analysts expect “unprecedented” regulatory tailwinds for the cryptocurrency industry this year, with the start of a pro-cryptocurrency government in the United States.
Regarding this, Chhugani maintains that a bill on stablecoins would be considered a priority. “Stablecoins further strengthen the US dollar by purchasing Treasury bonds and distributing digital dollars online,” he explains.
“The structure of the digital asset market helps legal clarity and licensing for exchanges, brokers/dealers, including the legal position on non-custodial Defi protocols, excluding them from broker/dealer status,” details the specialist. .
Such legislation could boost the stablecoin market to half a trillion dollars this yearwhich would imply a growth of 55% more than in 2024, as the following graph shows.

The bitcoin and cryptocurrency industry will be more united to AI, warns
As for bitcoin mining companies, Bernstein thinks that They must continue adding artificial intelligence capabilities (AI). Those already doing so have seen higher returns, with Core Scientific and TeraWulf posting gains of 308% and 136%.
They expect this trend to continue as “AI changes the bitcoin mining business model to make it more sustainable and less cyclical, attracting a broader institutional investor base.” They also predict an increase in cryptocurrency industry developments that include AI.
With such a scenario, Berstein predicts not only greater adoption of bitcoin, but also of other crypto assets and companies in the industry, as well as advances of new developments.