Bitcoin is on the brink of reaching the $100,000 milestone, spurred by a rally that commenced with Donald Trump’s election, according to a recent note by Bernstein. Trading above $90,000, the cryptocurrency’s surge is attributed to anticipations of relaxed regulations. Bernstein remains bullish, forecasting a climb to $200,000 by 2025, propelled by expectations of pro-crypto appointments for key U.S. positions like the SEC chair and Treasury Secretary.

The brokerage firm points out that the crypto market’s outlook is optimistic, irrespective of the specific appointees. Current efforts in the U.S. to establish a Bitcoin reserve signal a positive legislative attitude, although it could be a lengthy process. The growing interest from institutional, corporate, and retail sectors underscores the widespread adoption of Bitcoin, indicating a shift towards broader institutional and sovereign engagement.

Further bolstering this trend, Trump’s administration is poised to enhance U.S.-based Bitcoin mining and ease the process for token registration. Such initiatives, along with support for stablecoin legislation, are expected to significantly drive institutional and sovereign demand for Bitcoin, shaping a new era of digital asset investment.