Siebert Financial analyst targets $175,000 bitcoin price, cites ETFs and stablecoin growth

Shift in Market Structure

Vieten explained that bitcoin’s resilience has improved significantly since the crypto lending failures in 2022. Broader ownership and increased access to financing options now underpin the market’s foundation, he stated.

Vieten emphasized, “The market structure has fundamentally shifted,” noting stronger institutional involvement and reduced selling pressure as key factors in the digital asset’s changing landscape.

His valuation model for bitcoin incorporates three main factors: overall money supply growth, the rate of digital wallet adoption, and demand trends for the cryptocurrency.

Institutional Exposure and Bank Lending

Vieten regards exchange-traded funds (ETFs) as an increasingly vital source of long-term investment in bitcoin. He cited recent improvements in market sentiment and described a reduction in selling pressure across investment groups, with miners increasingly diversifying into sectors such as artificial intelligence and high-performance computing. These strategies, he says, help miners secure alternative capital streams.

Companies holding bitcoin in their reserves generally exhibit low debt levels and conservative spending habits, which Vieten sees as positive for price stability. He also pointed to expanding transparency through on-chain trading platforms, which now offer more direct insight into market movements.

Vieten highlighted growing involvement from major banking institutions. For example, JPMorgan has started accepting shares of BlackRock’s IBIT—an exchange-traded fund tracking bitcoin—as loan collateral, allowing businesses to secure funding without selling their bitcoin ETF shares. JPMorgan first outlined plans to accept bitcoin ETFs as collateral in June 2025.

MicroStrategy Executive Chairman Michael Saylor has offered similar perspectives, anticipating continued advancements in banking custody and lending options for digital assets even as broader crypto legislation faces delays.

Vieten does not view the upcoming November midterm elections as a significant risk factor for digital asset policy directions.

Mini dictionary: Siebert Financial is a US-based diversified financial services company, offering brokerage, investment banking, and advisory services to retail and institutional clients.

Stablecoin Expansion and Consumer Adoption

Vieten believes that growth in stablecoins, such as USDC, could act as the next major driver for bitcoin’s price. Stablecoins are designed to maintain a consistent value by being backed one-to-one with assets like cash, bank deposits, or short-term US Treasuries. He expects rising adoption of blockchain payments to bring new participants and liquidity into the crypto ecosystem, indirectly benefiting bitcoin demand.

He stated that, “That’s what takes us to $175k and beyond in the next few quarters,” referencing the increasing role of stablecoins in supporting short-term Treasury demand and the broader crypto ecosystem.

A new regulatory framework, known as the GENIUS Act, will require stablecoins to be fully backed by eligible assets. This act is scheduled to take effect on January 18, 2027, and aims to strengthen confidence in major stablecoins.

Meanwhile, consumer access to digital dollars continues to expand. Samsung announced that starting in the last week of October, USDC payments will be integrated into Samsung Wallet. The rollout is set to reach 82 million Galaxy devices across the US, enabling users to conduct eligible bank transfers to more than 60 countries through their mobile wallets.