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. He expects wider use of blockchain payments to bring more users and liquidity into crypto markets, supporting demand for Bitcoin.

Stablecoins are designed to maintain a steady value, often against the U.S. dollar. Vieten expects their growth to increase demand for short-term Treasuries as well. The GENIUS Act requires stablecoins to be backed one-to-one by eligible assets, including cash, deposits and short-term Treasuries. The law is expected to take effect Jan. 18, 2027.

Samsung announced Oct. 7 that USDC transfers are planned for Samsung Wallet in the last week of October. At launch, the feature is expected to be available on 82 million U.S. Galaxy devices. Eligible transfers can go to bank accounts in more than 60 countries.

Vieten’s projection links stablecoin adoption and financing access to Bitcoin’s potential performance over the coming quarters.