Bitcoin Price to $250K CoinShares’ Exec Explains Why Its Possible
The post Bitcoin Price to $250K CoinShares’ Exec Explains Why Its Possible appeared on BitcoinEthereumNews.com.
CoinShares’ James Butterfill is confident Bitcoin price and valuation could capture 25% of gold’s capitalization. The digital currency might see a major reversal, but Bitcoin ETF will provide the needed cushion. James Butterfill, Head of Research at digital asset management CoinShares, made a bold prediction about Bitcoin (BTC). In a recent CNBC interview, Butterfill explained why the leading cryptocurrency could hit the $250,000 mark in the long term. Butterfill’s Bitcoin Price Projection At Bitcoin’s current price, a rally toward $250,000 means an increase of 166%. Also, Bitcoin’s market capitalization would represent roughly 25% of the market share of gold, up from the current 10%. While Butterfill expressed optimism, he said he does not expect Bitcoin to hit $250,000 this 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,” says Butterfill. Nonetheless, he believes Bitcoin could correct to $80,000 in 2025 and peak at $150,000. He explained that Bitcoin’s $80,000 might stem from the unfulfillment of Donald Trump’s pro-crypto policies. For context, Bitcoin hit the $100,000 milestone in December following Trump’s Presidential win. The rally follows expectations that Donald Trump would enact favorable crypto policies upon resuming office in January. Thus, Butterfill explained that disappointment about Trump’s proposed crypto policies and uncertainty about execution could spark a large market correction. On the brighter side, he thinks a favorable US regulatory environment will spark over a 60% increase for Bitcoin this year. In 2023, he estimated Bitcoin price to hit $80,000 in 2024. Bitcoin hit this target, rallying to an all-time high of $108,239 before dropping to current levels. At press time, BTC is trading at $96,240, up 3.6% in the last 24 hours, with a market cap of $1.9 trillion. [mcrypto id=”19649″] Meanwhile, CoinShares is just…
Filed under: News - @ January 2, 2025 8:27 pm