Analysts predict Bitcoin could hit $500,000 by 2029 after Trump's election win
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Analysts at Bernstein predict Bitcoin could reach $500,000 by 2029, following its recent rise to $90,000 after Donald Trump's election win. They attribute this potential growth to expected pro-cryptocurrency policies and the success of spot Bitcoin ETFs. Spot Bitcoin ETFs launched in January 2024 have seen over $28 billion in inflows, making it the most successful ETF launch ever. The iShares Bitcoin Trust, managed by BlackRock, quickly reached $10 billion in assets, attracting institutional investors. Trump's administration may promote Bitcoin as a corporate treasury asset, with proposed legislation to create a strategic Bitcoin reserve. While Bitcoin's price has surged recently, experts warn of potential volatility and past declines.