Bernstein, an investment management company with assets under management valued at $725 billion, urged its clients to join the bitcoin (BTC) market.
This comment comes at a time when the price of the digital currency is experiencing a notable increase, reaching and exceeding $87,000.
“Don’t fight this,” declared Gautam Chhugani, Bernstein analyst, to the American press. “Welcome to the cryptocurrency bull market – buy as much as you can,” Chhugani added.
The firm advised investors to add BTC to their portfolios “as soon as possible,” given the continued rise in the value of the currency. Chhugani, in particular, recommends those who have been reluctant to invest in cryptocurrencies due to regulatory concerns, to “invest in your mental model.”
The latter, especially after Donald Trump’s electoral victory in the United States in 2024, which is anticipated to will create a more favorable regulatory environment for the cryptocurrency sector and will take BTC to $90,000 in the coming days, as reported by CriptoNoticias.
BTC price is up a hefty 25.2% in the last week, and recently broke another all-time high, reaching $87,000.
This increase has been observed steadily since the re-election of Trump last Tuesday, whose promise of policies in favor of the cryptocurrency ecosystem, as well as the creation of a strategic reserve of bitcoin and the elimination of what he described as a “war against the regulation of cryptocurrencies”, has been seen as a strong catalyst for the price of BTC.
In addition to political influence, bitcoin exchange-traded funds (ETFs) have played a crucial role in the recent momentum. Last week, these financial products saw tickets worth $1.63 billionwith a peak daily investments which reached 1,380 million, marking the highest day of investment in these products, according to SosoValue.
Clarification: This article is written for informational purposes. It does not constitute financial advice or investment recommendation. Each investor is responsible for conducting his or her own research.