The price of Bitcoin (BTC) surpassed $100,000 yesterday, propelled by multiple positive developments throughout the year. The rise of the flagship cryptocurrency has led Standard Chartered to predict that the price of BTC could double to $200,000 by the end of 2025.
Bitcoin Price May Double By End of 2025, Standard Chartered Predicts
Bitcoin, the leading digital asset with a market capitalization of over $2 trillion at the time of writing, has finally entered the six-figure price zone. Invigorated Thanks to Donald Trump’s victory in the US presidential election, BTC has climbed 48% since November 5.
In a note shared earlier today, Standard Chartered analyst Geoff Kendrick noted that the company’s BTC target by the end of 2025, of around $200,000, is “achievable.” The analyst added:
We would be even more optimistic if BTC were adopted more quickly by US pension funds, global sovereign wealth funds or a potential US strategic reserve fund. In 2025, we expect institutional flows to continue at or above the pace of 2024. MicroStrategy is ahead of schedule on its three-year, $42 billion plan, so its 2025 purchases are expected to match or exceed its 2024 purchases.
Cathie Wood, CEO of ARK Invest, had similar thoughts pointing out that even though Bitcoin has reached the $100,000 milestone, the digital asset is still in its “early stages.” In a job on
She also referenced US Federal Reserve (Fed) Chairman Jerome Powell’s recent remark describing BTC as a virtual, digital version of gold. Wood compared the total market capitalization of gold to that of Bitcoin, saying:
At $2,700, gold represents a roughly $15 trillion market, compared to just $2 trillion for bitcoin. Even after surpassing $100,000, Bitcoin is still in its infancy. Indeed, ARK Invest believes that Bitcoin is a much more important idea than gold.
The chart below from CoinMarketCap shows the world’s top assets ranked by total market capitalization. While gold reigns supreme with a market capitalization of nearly $18 trillion, BTC is gradually catching up with the precious metal. Notably, BTC has already surpassed silver in terms of market capitalization.
The arguments in favor of additional gains in BTC
Although Bitcoin has had an impressive year in terms of price action, many marginalized investors may believe they missed the boat. However, the data seems to suggest just the opposite.
According to a recent reportRetail investors have yet to fully join the current crypto bull market, suggesting that the current rally is largely led by institutional investors. BTC surpassing the $100,000 price level could spark some interest among retail investors to start buying cryptocurrencies and further fuel the current market rally.
A recent analysis from CryptoQuant predicted that Bitcoin could surpass $146,000 during this cycle. BTC is trading at $101,585 at press time, up 6.9% in the last 24 hours.
Featured image from Unsplash.com, charts from CoinMarketcap and TradingView.com
