Following the unprecedented surge for the leading cryptocurrency, $870 billion asset manager Standard Chartered Bank says that Bitcoin will double to reach $200,000 in 2025. Indeed, the prediction came as the asset reached six figures for the very first time this week.
The asset has already increased more than 140% year to date and has enjoyed monumental gains since Donald Trump won the 2024 presidential election. With favorable regulation on the horizon and an influx of institutional investment, the coming year should be unlike any other for the digital asset.
JUST IN: $870 billion asset manager Standard Chartered Bank says #Bitcoin will double to $200,000 in 2025.
— Watcher.Guru (@WatcherGuru) December 5, 2024
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Standard Chartered Expects Bitcoin to Double After All-Time Rally
2024 has been the best year in Bitcoin’s history. The leading crypto has continued to set new all-time highs and completely shifted its narrative in relation to the traditional finance world. Moreover, it started the year by becoming the first crypto-based ETF in the US, thereby creating unparalleled institutional investor interest.
Yet, there are many who believe the coming year could be just as impressive for the token. Specifically, Standard Chartered Bank has said that Bitcoin could double to reach a price of $200,000 in 2025. Indeed, analyst Geoff Kendrick expects it to continue increasing from its current all-time high, according to a CNBC report.
Also Read: Standard Chartered Reacts to Bitcoin Surpassing $100,000
“In 2025, we expect institutional flows to continue at or above the 2024 pace,” Kendrick said. “MicroStrategy is running ahead of its USD 42bn three-year plan, so its purchases in 2025 should match or exceed its 2024 purchases,” he added. All of which look to factor into the bank’s ambitious price target.
The landmark price doesn’t seem out of the question. An ongoing bull rally was magnified when President-elect Donald Trump announced his recommendation for Paul Atkins as the new US Securities and Exchange Commission (SEC) chair. The success of the asset and an end to the agency’s challenging stance on the asset class should see even more companies get involved in Bitcoin.
