The boldest bitcoin predictions for 2025 are in — and most see prices doubling to $200,000
After 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
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