Siebert Analyst Sees Bitcoin Above $175,000 as Stablecoins Grow

Bitcoin (BTC) could exceed $175,000 over the next few quarters, Siebert Financial senior research analyst Brian Vieten projects, connecting his outlook to institutional ownership, loans secured by ETF shares and wider stablecoin use. He argues those factors could strengthen the market and expand demand for Bitcoin. Vieten says the market has become more resilient since crypto lending failures in 2022 as ownership broadened and access to capital improved. Exchange-traded funds can support longer-term ownership, he says. Vieten also says JPMorgan accepts shares of BlackRock’s iShares Bitcoin Trust (IBIT) as security for loans, letting borrowers access financing while keeping their fund shares. His earlier valuation framework also considered money supply growth, digital wallet adoption and demand for Bitcoin. Vieten now sees stablecoin use as a major driver of his outlook.

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