The report forecasts that the total crypto market capitalization will nearly triple to reach $7.5 trillion by the year 2025
Bernstein initiated coverage of Robinhood (HOOD) with an outperform rating and a target price of $30, attributing the bullish call to a “monster” crypto cycle, as stated in a research report released on Thursday.
The report predicts that the total crypto market capitalization will reach $7.5 trillion by 2025, compared to $2.6 trillion today. This projection suggests that Robinhood’s crypto revenue could increase ninefold. Additionally, Robinhood announced on Wednesday that crypto trading volume on its platform rose by 10% in February compared to January.
Bernstein anticipates significant growth in the market capitalization of Bitcoin (BTC), estimating it to reach $3 trillion by 2025, with Ether (ETH) reaching $1.8 trillion, and other leading blockchain tokens collectively reaching $1.4 trillion.
Also, read- Top 10 ways Crypto Market Manipulation Is Damaging To New Investors
Analysts Gautam Chhugani and Mahika Sapra highlighted the unprecedented institutional adoption of cryptocurrencies. They foresee assets under management for spot Bitcoin exchange-traded funds (ETFs) potentially surging to $300 billion by 2025 and anticipate the availability of an Ether ETF within the next 12 months.
Bernstein views Robinhood as a two-year cyclical trade, poised to benefit from the crypto-led earnings growth expected over 2024-25. Following this announcement, Robinhood’s shares surged over 10% in after-hours trading.
Stay informed with daily updates from Blockchain Magazine on Google News. Click here to follow us and mark as favorite: [Blockchain Magazine on Google News].
Disclaimer: Any post shared by a third-party agency are sponsored and Blockchain Magazine has no views on any such posts. The views and opinions expressed in this post are those of the clients and do not necessarily reflect the official policy or position of Blockchain Magazine. The information provided in this post is for informational purposes only and should not be considered as financial, investment, or professional advice. Blockchain Magazine does not endorse or promote any specific products, services, or companies mentioned in this posts. Readers are encouraged to conduct their own research and consult with a qualified professional before making any financial decisions.
About the Author: Diana Ambolis
