Bitcoin Price Around $200,000 “Achievable” By 2025 End, Standard Chartered Says

The price of Bitcoin (BTC) surged past $100,000 yesterday, driven by multiple positive developments throughout the year. The rise of the major cryptocurrency has led Standard Chartered Bank to predict that the price of Bitcoin could double to $200,000 by the end of 2025.

The price of Bitcoin could double by the end of 2025, Standard Chartered predicts

Bitcoin, the top digital asset with a market capitalization of over $2 trillion at writing, has finally entered the six-figure price zone. Activate With Donald Trump’s victory in the US presidential election, Bitcoin has risen by a remarkable 48% since November 5.

In a Note Shared earlier today, Standard Chartered analyst Jeff Kendrick noted that the company’s BTC target by the end of 2025 of around $200,000 is “achievable.” The analyst added:

We will turn more bullish if BTC sees faster uptake 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 2024 pace. MicroStrategy is ahead of its $42 billion, three-year plan, so its 2025 purchases should match or exceed its 2024 purchases.

Cathie Wood, CEO of ARK Invest, had similar thoughts as she emphasized that although Bitcoin has reached the $100,000 level, the digital asset is still in the “early innings.” In a mail On Day

She also pointed to recent statements by US Federal Reserve Chairman Jerome Powell in which he described Bitcoin 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 market worth roughly $15 trillion, compared to Bitcoin which is worth only about $2 trillion. Even after breaching the $100,000 barrier, Bitcoin is still in its infancy. In fact, ARK Invest believes that Bitcoin is a much bigger idea than gold.

The chart below from CoinMarketCap shows the world’s top assets ranked by total market cap. While gold holds the top spot with a market capitalization of around $18 trillion, BTC is steadily catching up with the precious metals. Notably, BTC has already surpassed silver in terms of market cap.

The case for further gains in BTC

Although Bitcoin has had an impressive year in price action, many fringe investors may think they missed the boat. However, the data seems to indicate just the opposite.

According to a hadith a reportHowever, retail investors have yet to fully join the ongoing cryptocurrency bull market, suggesting that the current rally is largely led by institutional investors. BTC crossing the $100,000 price level may spark some interest in retail investors to start buying cryptocurrencies and fuel the current market rally.

Recent analysis conducted by CryptoQuant He predicts Bitcoin may reach $146,000 this cycle. Bitcoin is trading at $101,585 at press time, up 6.9% in the past 24 hours.

Featured image from Unsplash.com, charts from CoinMarketcap and TradingView.com