<ul data-eligibleForWebStory="true">Bernstein analysts reiterate their $200,000 price forecast for Bitcoin in 2025.The firm manages $800 billion in assets and attributes the prediction to the success of Bitcoin spot ETFs.Bitcoin ETFs now hold over $120 billion in assets, signaling increased institutional investor interest.Bernstein sees Bitcoin transitioning from a speculative asset to a macro-level store of value.Ethereum's influence is also key, with analysts viewing it as the foundation for digital finance innovation.Stablecoins, tokenized assets, and blockchain financial products rely on Ethereum’s decentralized infrastructure.Bernstein's $200,000 target for Bitcoin is described as both bold and conservative in a client note.A rise from $109,531 to $200,000 would represent an 82.7% gain.Bitcoin adoption and blockchain's integration in traditional finance support Bernstein's long-term thesis.