Leading research and brokerage firm Bernstein, with analysts led by Gautam Chhugani, has issued a strong recommendation for cryptocurrency investments, urging clients to seize the opportunities following Donald Trump’s election victory. In a Monday note, Chhugani encouraged clients to embrace the rising market, declaring, “Don’t fight this.” He wrote:
Welcome to the crypto bull market — buy everything you can.
With bitcoin hitting all-time highs, Bernstein’s team believes Trump’s pro-crypto stance will help foster a more supportive regulatory environment. Chhugani noted Trump’s recent campaign pledges, which include creating a national bitcoin reserve and promising to end the Biden administration’s war on crypto.
These moves, Chhugani suggested, signal a shift in U.S. policy that could benefit cryptocurrency markets. Although establishing a national bitcoin reserve could take until 2025, he emphasized:
The direction of travel toward bitcoin becoming a treasury asset, held by corporates, governments, and institutions, appears evident to us.
In light of these anticipated changes, Chhugani urged investors previously hesitant due to regulatory uncertainty to rethink their approach. “Invert your mental model,” he advised, indicating the favorable conditions for crypto investment under the expected regulatory shift.
Bernstein highlighted several key investment options for gaining exposure to the cryptocurrency sector, including spot bitcoin and ethereum exchange-traded funds (ETFs), crypto mining firms, and companies like Microstrategy, which has significant bitcoin holdings. Microstrategy just bought 27,200 BTC for $2.03 billion, expanding its holdings to 279,420 BTC. Confident in bitcoin’s long-term potential, Chhugani stated: “We remain confident in our $200,000 bitcoin price target by 2025 end.” With bitcoin already up over 100% year-to-date and substantial ETF inflows fueling demand, Bernstein sees an unprecedented bull market on the horizon and strongly encourages investors to act on this opportunity.
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