Key Points
- Investment manager VanEck sets a target of $180,000 for Bitcoin by 2025.
- Increasing institutional interest and post-halving effects are among the factors driving Bitcoin’s surge.
Investment manager VanEck has predicted a bright future for Bitcoin (BTC), setting a target of $180,000 for the cryptocurrency by 2025. This optimistic forecast comes amidst Bitcoin’s impressive surge, which Matthew Sigel, VanEck’s head of digital asset research, believes is the start of a larger upward trend.
Bitcoin’s Bullish Momentum
Since Donald Trump’s election victory, Bitcoin has experienced a 30% surge. On November 13th, it reached a peak of nearly $93,490. However, the momentum has slightly eased since then, with Bitcoin trading around $88,100 as of November 15th.
Analysts suggest that the surge is not solely due to political outcomes. The post-halving effect has also played a significant role. Following the 2020 elections, Bitcoin’s value doubled in the months post-election, indicating that market cycles and election-driven sentiment are both influencing its performance.
Increasing Institutional Interest
Sigel highlighted the growing institutional interest in Bitcoin, noting a shift in sentiment among investment advisors. Many, who had previously avoided Bitcoin, are now looking to incorporate it into their portfolios. The rise in inquiries from professionals wanting to capitalize on Bitcoin’s potential reflects its evolving status as a mainstream investment asset.
This growing institutional interest could act as a major catalyst for Bitcoin’s price rally, with increasing capital inflows expected to fuel its growth. Standard Chartered has also projected that the overall cryptocurrency market cap could reach $10 trillion by 2026, particularly under a Republican-led administration that fosters crypto-friendly policies.
However, not all share this optimism. Bitcoin critic Peter Schiff has expressed his skepticism on social media, questioning the asset’s long-term viability.
