Bitcoin is forecast to exceed $200,000 for the first time in 2025, according to projections from crypto asset manager Bitwise. Following a monumental year in 2024, marked by the launch of spot Bitcoin exchange-traded funds (ETFs) and a Bitcoin halving event in April, the world’s largest cryptocurrency has firmly established itself as a mainstream investment asset.
Bitcoin surged to unprecedented highs in 2024, including breaking the $100,000 barrier in December, fueled by Donald Trump’s victory in the US presidential election on November 5. The crypto-friendly president-elect has pledged to position the US as the “crypto capital of the planet” and is reportedly considering the creation of a strategic Bitcoin reserve.
“This means he can drive his campaign policy very effectively. His campaign advisors, especially Elon Musk and Robert F. Kennedy Jr., are also very pro-Bitcoin, so I think these pledged policies will be implemented,” said Nirun Fuwattananukul, chief executive of Gulf Binance, the Thai joint venture between Gulf Energy Development and Binance, the world’s leading crypto exchange.
According to Farside Investors, Bitcoin ETFs saw net inflows exceeding $36 billion in 2024, reflecting strong institutional interest in the asset. Bitwise predicts similar inflows for 2025, as investor confidence remains high.
Despite reaching record highs, Bitcoin experienced a short-term pullback at key resistance levels, leaving traders debating whether to buy now or wait for further consolidation. As of late December, Bitcoin was trading near $98,000, with the total cryptocurrency market cap estimated at $3.26 trillion.
In Thailand, former Prime Minister Thaksin Shinawatra has proposed a Bitcoin sandbox initiative in Phuket, allowing the use of the cryptocurrency for tourism-related payments. Thaksin, reportedly optimistic about Bitcoin’s potential, believes the price could soar to $850,000 in the future.
Bitwise’s long-term outlook for Bitcoin remains bullish, with the firm predicting the cryptocurrency could climb above $500,000 if the US government adopts a proposal by Republican Senator Cynthia Lummis to establish a strategic Bitcoin reserve by purchasing 1 million BTC.
“We will likely see the US building and growing the industry again after many companies moved offshore the last few years,” said Nirun. “With more capital invested and supportive regulation, I believe crypto will grow massively in the near future.”
A shift in US crypto policy could have significant global implications, Nirun added. “If the US becomes supportive of crypto, every major country will likely follow suit to remain competitive.”
As 2025 begins, Bitcoin’s journey toward new milestones seems increasingly within reach, driven by a combination of institutional support, favorable regulation, and growing global adoption.
