BroadChain News, according to Bitcoinist, global top banks including Citigroup, JPMorgan, Goldman Sachs, Standard Chartered, and TD Cowen have recently released bullish reports on Bitcoin, with target prices ranging from $140,000 to $200,000. Citigroup set a base target of $143,000, with a bull case scenario reaching $189,000, based on increased institutional demand and continued ETF inflows. JPMorgan set a target of $170,000 based on a valuation comparison between Bitcoin and gold, suggesting that if ETF demand persists, Bitcoin still has room to catch up with gold as a store of value asset. Goldman Sachs' digital asset team expects Bitcoin to approach $200,000 by 2026. Standard Chartered revised its end-2026 target to approximately $100,000 but maintained its long-term forecast of $500,000 by 2030. TD Cowen set a target of $140,000, the lowest among the aforementioned banks.
This shift stands in stark contrast to Wall Street's past stance. In September 2017, JPMorgan CEO Jamie Dimon publicly called Bitcoin a "fraud" and threatened to fire any employee trading Bitcoin. Now, JPMorgan is offering cryptocurrency trading services to institutional clients, Goldman Sachs disclosed holding approximately $1 billion in Bitcoin in regulatory filings, and its CEO David Solomon acknowledged holding a small amount of Bitcoin personally. Over the past three months, Citigroup, Morgan Stanley, JPMorgan, and Goldman Sachs have all launched Bitcoin-related products including custody, trading, ETFs, and direct purchases.