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    Home ยป Bernstein Major Financial Institutions to Begin Accepting Bitcoin
    Bitcoin

    Bernstein Major Financial Institutions to Begin Accepting Bitcoin

    By adminJun. 19, 2024No Comments2 Mins Read
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    Bernstein Major Financial Institutions to Begin Accepting Bitcoin
    Bernstein Major Financial Institutions to Begin Accepting Bitcoin
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    Global asset management company Bernstein believes that the value of Bitcoin (BTC) and related companies is underestimated, and is ready to be adopted by institutions.

    Bernstein claims that according to cryptocurrency bear markets, trading of spot Bitcoin exchange-traded funds (ETFs) is declining, as most early allocations come from retail investors, while most institutional demand is for “basic spot self-trade” rather than new net long positions.

    The bank’s analysts stated: “Although this is the case, we believe that Bitcoin ETFs will soon be accepted by major banking institutions and major private banking platforms in the third/fourth quarter.”

    Read more:


    Bitcoin loses momentum, but this does not mean the bull market is over
    “Institutional base trading appears to be the ‘adopted Trojan horse,’ with these investors now evaluating net long positions as they feel more confident in improving ETF liquidity,” the author also claimed.

    The report points out that a large influx into Bitcoin ETFs will accelerate in the third and fourth quarters, with the next stage of adoption being driven by large advisors who recognize ETFs and allocate reserves from existing portfolios.

    Brokers expect the flagship cryptocurrency to rise to around $2 million by 2025, $5 million by 2029, and $10 million by 2033.

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