比特币 (BTC) 价格预测：随着机构投资者主导市场，到 2025 年底将达到 200,000 美元

随着华尔街将成为最大持有者，矿工的整合和人工智能能源需求的不断上升进一步增强了比特币的潜力。

A Bernstein report reveals that Bitcoin (BTC) could rise to $200,000 by the end of 2025 as institutional investors dominate the market.

Bernstein 的一份报告显示，随着机构投资者主导市场，比特币 (BTC) 到 2025 年底可能会升至 20 万美元。

The report predicts that Bitcoin miners will continue to consolidate the sector, and rising artificial intelligence (AI) energy demand will further boost BTC's potential.

该报告预测，比特币矿商将继续整合该行业，而不断增长的人工智能（AI）能源需求将进一步提升比特币的潜力。

Bitcoin's Institutional Era to Drive Price Surge

比特币的制度时代推动价格飙升

A Bernstein Research report on Oct. 22 predicted that the cryptocurrency's price might reach $200,000 by the end of 2025 as Bitcoin enters "a new institutional era."

Bernstein Research 10 月 22 日的一份报告预测，随着比特币进入“一个新的制度时代”，到 2025 年底，加密货币的价格可能会达到 20 万美元。

Bernstein's 160-page "Black Book" explains why Bitcoin miners will keep consolidating the sector, according to Matthew Sigel, head of digital asset analysis at VanEck, in an Oct. 23 article on the X platform.

VanEck 数字资产分析主管 Matthew Sigel 在 10 月 23 日 X 平台上发表的一篇文章中表示，伯恩斯坦的 160 页“黑皮书”解释了为什么比特币矿商将继续整合该行业。

"Ten global asset managers now own ~$60Bn wrapped as regulated [exchange-traded funds] compared with $12Bn in September 2022," the report says.

报告称：“十家全球资产管理公司目前拥有约 600 亿美元的受监管 [交易所交易基金]，而 2022 年 9 月的规模为 120 亿美元。”

Wall Street Set to Overtake Satoshi as Bitcoin’s Biggest Holder

华尔街将取代中本聪成为比特币最大持有者

Bernstein predicted that Wall Street will surpass Satoshi as the leading Bitcoin wallet by the end of 2024, Cointelegraph shares.

Cointelegraph 表示，伯恩斯坦预测，到 2024 年底，华尔街将超越中本聪，成为领先的比特币钱包。

Bitcoin has been the undisputed star of the exchange-traded fund (ETF) scene in 2024, accounting for six of the top ten most successful launches, according to a post on the X platform by Nate Geraci, president of a financial adviser The ETF Store.

金融顾问 The ETF Store 总裁 Nate Geraci 在 X 平台上发布的一篇文章称，比特币已成为 2024 年交易所交易基金 (ETF) 领域无可争议的明星，在最成功的十大发行中占据了六席。 。

Institutional Investors Back Bitcoin Ahead of U.S. Election

机构投资者在美国大选前支持比特币

In the run-up to the November US presidential election, institutional investors like Paul Tudor Jones, Bernstein, and JP Morgan are becoming more and more positive about Bitcoin.

在 11 月美国总统大选前夕，保罗·都铎·琼斯 (Paul Tudor Jones)、伯恩斯坦 (Bernstein) 和摩根大通 (JP Morgan) 等机构投资者对比特币越来越看好。

In a research published on October 3rd, JPMorgan stated that investors are opting for gold and Bitcoin as part of a "debasement trade" in anticipation of a "catastrophic scenario" due to increasing global tensions.

摩根大通在 10 月 3 日发布的一项研究中表示，由于全球紧张局势加剧，投资者预计将出现“灾难性场景”，因此他们选择黄金和比特币作为“贬值交易”的一部分。

The research, provided with Cointelegraph by JPMorgan, states that "[R]ising geopolitical tensions and the coming [United States] election are likely to reinforce the ‘debasement trade’ thus favoring both gold and Bitcoin."

摩根大通向 Cointelegraph 提供的这项研究指出，“不断加剧的地缘政治紧张局势和即将到来的（美国）大选可能会强化‘贬值贸易’，从而有利于黄金和比特币。”

Debasement Trade Drives Bitcoin and Gold Demand

贬值贸易推动比特币和黄金需求

"Structurally higher geopolitical uncertainty since 2022, to persistent high uncertainty about the longer-term inflation backdrop, to concerns about […] persistently high government deficits across major economies," JPMorgan said, referring to the so-called debasement trade as an increase in gold demand.

摩根大通表示：“自 2022 年以来，地缘政治不确定性出现结构性上升，长期通胀背景的持续高度不确定性，以及对主要经济体持续高企的政府赤字的担忧。”黄金需求。

"All roads lead to inflation" following the US presidential election, according to Jones, who created the hedge fund Tudor Investment Corporation, who expressed his desire for Bitcoin and other commodities on October 22.

创建对冲基金都铎投资公司的琼斯表示，美国总统大选后“条条大路通向通货膨胀”，他于 10 月 22 日表达了对比特币和其他大宗商品的渴望。

"I probably have some basket of gold, Bitcoin, commodities and Nasdaq [technology stocks] and I would own zero fixed income," Jones stated on CNBC's Squawk Box.

琼斯在 CNBC 的 Squawk Box 上表示：“我可能有一篮子黄金、比特币、大宗商品和纳斯达克（科技股），而我的固定收益为零。”

Bitcoin Miners to Capitalize on AI Energy Demand

比特币矿工利用人工智能能源需求

Bitcoin miners are expected to recover from a post-halving downturn in mid-2024, according to Bernstein, as the sector consolidates and capitalizes on energy demand from artificial intelligence (AI).

Bernstein 表示，随着该行业整合并充分利用人工智能 (AI) 的能源需求，比特币矿商预计将于 2024 年中期从减半后的低迷中复苏。

"We expect Riot, ClearSpark and Marathon to consolidate the Bitcoin mining industry," Bernstein claimed.

伯恩斯坦声称：“我们预计 Riot、ClearSpark 和 Marathon 将巩固比特币挖矿行业。”

AI-Powered Computation Boosts Mining Profits

人工智能驱动的计算提高了挖矿利润

The mining rewards for Bitcoin were cut in half in April, going from 6.25 BTC to 3.125 BTC each block.

4 月份，比特币的挖矿奖励减少了一半，从每个区块 6.25 BTC 降至 3.125 BTC。

At the same time, processing power driven by AI is experiencing a meteoric rise in demand.

与此同时，人工智能驱动的处理能力的需求正在迅速增长。

Reportedly, mining business Luxor CEO Nick Hansen stated that, in comparison to Bitcoin (BTC) mining, miners may earn $2 to $3 per kwH of energy consumed from AI.

据报道，矿业公司 Luxor 首席执行官 Nick Hansen 表示，与比特币（BTC）挖矿相比，矿工从人工智能消耗的每千瓦时能源中可以获得 2 至 3 美元的收入。

Core Scientific, Hut 8 (HUT), and Hive Digital Technologies (HIVE) are among the Bitcoin miners that are embracing AI as an additional source of revenue.

Core Scientific、Hut 8 (HUT) 和 Hive Digital Technologies (HIVE) 等比特币矿工都将人工智能作为额外的收入来源。