In a bold forecast, investment firm Bernstein has predicted that Bitcoin will replace gold as the world's leading store of value asset within the next decade, following the cryptocurrency's historic surge past $100,000.
According to Bernstein analyst Gautam Chhugani, Bitcoin's trajectory extends well beyond short-term price movements, with projections reaching $200,000 by late 2025. The analyst emphasized Bitcoin's growing role in institutional portfolios and corporate treasury management.
The prediction comes amid unprecedented institutional adoption of Bitcoin. Spot ETFs have gathered approximately $100 billion since their recent launch, marking them as the fastest-growing ETF products in history. Business software company MicroStrategy leads corporate adoption, holding over $40 billion in Bitcoin.
Two key factors are driving this transformation. First, Bitcoin ETFs have made cryptocurrency investment more accessible to traditional investors. Second, updated Financial Accounting Standards Board guidelines have simplified corporate Bitcoin holdings, paving the way for wider adoption among businesses.
Bitcoin's finite supply cap of 21 million tokens mirrors gold's scarcity principle, which has historically made the precious metal attractive as a store of value. This characteristic, combined with growing institutional acceptance, positions Bitcoin to challenge gold's centuries-old dominance in global finance.
The political landscape appears increasingly favorable for Bitcoin, with some Washington figures advocating for a national Bitcoin reserve. Senator Cynthia Lummis has even proposed converting Fed-held gold certificates into Bitcoin holdings, indicating a potential shift in governmental approach to digital assets.
As Bitcoin continues its institutional integration and corporate adoption expands, Bernstein maintains that the cryptocurrency will become an integral component of multi-asset allocation strategies, fundamentally reshaping the landscape of value storage in the global economy.