Representations of cryptocurrency Bitcoin are seen in this illustration taken Nov. 25, 2024.Dado Ruvic | ReutersAfter a blistering rally in bitcoin this year, crypto investors and industry executives told CNBC, they’re expecting the flagship cryptocurrency to hit new all-time highs in 2025.In December, the world’s largest cryptocurrency broke the highly-anticipated $100,000, setting a record high price above that. That came after Donald Trump — who ran on a prominently pro-crypto policy platform — secured a historic election win in November.Trump’s imminent return to the White House has boosted sentiment surrounding crypto with many industry executives and analysts expecting him to promote a more favorable regulatory environment for digital assets.During his election campaign, Trump vowed to replace incumbent Securities and Exchange Commission Chair Gary Gensler, who has taken aggressive legal actions against various crypto firms. Gensler agreed to step down from the SEC in 2025.Trump has also indicated the U.S. could establish a strategic bitcoin reserve, by pooling funds obtained through seizures from criminal activity.Also in 2024, bitcoin topped 2021’s price milestone of close to $70,000 after the SEC gave the green light to the first U.S. spot bitcoin exchange-traded funds, or ETFs.The ETF approval was widely viewed as a key moment for the cryptocurrency as it broadens its appeal to more mainstream investors.The other key moment in 2024 was the halving, an event that takes places every four years and reduces the supply of bitcoin onto the market. This is typically very supportive for bitcoin’s price.These developments helped move crypto past the narrative of an industry marred by scandal. That was the dominant theme of 2023 as two of crypto’s most prominent figures — FTX’s Sam Bankman-Fried and Binance’s Changpeng Zhao — both received prison sentences over criminal charges.This year, bitcoin has more than doubled in price. The token is widely expected to see even more positive price momentum in 2025 — with several industry watchers predicting a doubling in value to $200,000.CoinShares: $80,000-$150,000James Butterfill, head of research for crypto-focused asset manager CoinShares, told CNBC that he sees prices of both $150,000 and $80,000 being on the cards for bitcoin in 2025.Butterfill said in the long term it wouldn’t be “unreasonable” to expect bitcoin to become worth about 25% of gold’s market share — up from about 10% currently. That would equate to a price of $250,000.But he doesn’t see that happening next year. “Timing of this is very difficult though and I don’t expect this to occur in 2025, but it will head in that direction,” Butterfill told CNBC via email.He said that it is “likely” bitcoin could hit both $80,000 and $150,000 during the course of the year. Butterfill’s $80,000 call, if hit, would be a result of Trump’s promised pro-crypto policies not materializing.”Disappointment surrounding Trump’s proposed crypto
Gio. Gen 9th, 2025
