These 7 Big Financial Technology Companies Expect Bitcoin’s Price to Melt Up
Bitcoin, the world’s leading cryptocurrency, made headlines as it overcame significant resistance at the $30,000 mark in October 2023, ultimately establishing itself above the $60,000 threshold into 2024. The digital asset’s price soared further, buoyed by political maneuvers as it aligned itself with the momentum of Donald Trump’s narrative, culminating in a remarkable surge in October 2024.
On January 20, 2025, Bitcoin achieved a staggering record high of $109,000, a milestone confirmed by data from CoinGecko. However, this high was followed by a notable correction, with Bitcoin’s value dipping below $77,000, highlighting the volatility inherent in the cryptocurrency market.
In the realm of predictions, bettors in a $5.4 million Polymarket betting pool recently indicated a 61% probability that Bitcoin could reach $110,000 by 2025. Yet, there is also a 68% chance some analysts foresee Bitcoin potentially falling to $70,000 that same year. These opposing outlooks signal the uncertainty surrounding Bitcoin’s future price trajectory.
Despite these fluctuations, several prominent financial institutions express optimism about Bitcoin’s long-term stability and growth, particularly as they expect that the cryptocurrency will continue to thrive in an environment of increased dollar supply driven by Federal Reserve policies.
Key Insights from Financial Titans
Standard Chartered: Geoffrey Kendrick, the London bank’s crypto analyst, is notably bullish about Bitcoin’s prospects. He forecasts Bitcoin to hit $200,000 by 2025 and believes it could soar to $500,000 by 2029. Kendrick argues that the entry of traditional financial players into the cryptocurrency space will lend greater legitimacy and security, facilitating wider adoption.
Bank of America: CEO Brian Moynihan has indicated that the bank may fully embrace Bitcoin, contingent on regulatory clarity. He noted that favorable regulations could prompt traditional banking systems to integrate Bitcoin in transactional capacities. As the Federal Reserve appears poised to cut interest rates, which historically correlates with increased Bitcoin prices, Bank of America remains optimistic.
Morgan Stanley: The New York bank has been proactive in offering crypto services and intends to expand further into digital currencies as regulatory frameworks evolve. CEO Ted Pick acknowledged that a pending regulatory green light would facilitate significant moves into cryptocurrency payment systems.
Block: Jack Dorsey, the CEO of Block and co-founder of Twitter, is an ardent advocate for Bitcoin. He envisions a $20 trillion market cap and a price of $1 million per Bitcoin by 2030, attributing ongoing improvements within the Bitcoin ecosystem as a key driver of future price increases.
Coinbase: Brian Armstrong, Coinbase’s CEO, foresees Bitcoin flipping gold’s $18 trillion market cap, potentially reaching over a million dollars per Bitcoin. He believes the world is gradually transitioning toward a Bitcoin standard, which could redefine traditional notions of money.
BlackRock: As the world’s largest asset manager, BlackRock is positioning itself robustly in the cryptocurrency market. CEO Larry Fink has postulated that Bitcoin could climb to $700,000 as investors seek to hedge against economic uncertainty and currency debasement. BlackRock’s extensive holdings of Bitcoin reflect its strategic commitment to this emerging asset class.
Ark Invest: Cathie Wood, leading Ark Invest, remains steadfast in her prediction that Bitcoin could reach $1.5 million by 2030. Wood emphasizes the importance of a healthy market correction, viewing the current consolidation phase as a necessary prelude to Bitcoin’s next significant upward movement.
These insights from prominent financial entities collectively paint a picture of a bullish future for Bitcoin, even amidst present-day price corrections. With the backing of major financial institutions, the cryptocurrency is not only poised for potential recovery but may also experience substantial appreciation on a larger scale.
