A top executive from digital asset manager CoinShares is making a big price prediction for Bitcoin (BTC).
In a new CNBC interview, CoinShares head of research James Butterfill says Bitcoin may ultimately hit $250,000, a more than 166% increase from its current value.
At $250,000 per Bitcoin, the flagship crypto asset’s total market cap would be about 25% of gold’s market share, up from the approximate current 10% – something Butterfill says is not “unreasonable” to happen.
However, Butterfill says that he does not expect Bitcoin to hit $250,000 this year.
Says Butterfill,
“Timing of this is very difficult though and I don’t expect this to occur in 2025, but it will head in that direction.”
Instead, Butterfill is predicting Bitcoin could correct to $80,000 in 2025 and peak at $150,000.
Butterfill warns that Bitcoin may suffer from a steep correction if pro-crypto US President-elect Donald Trump doesn’t enact favorable Bitcoin policies, as many expect he will soon after taking office later this month.
“Disappointment surrounding Trump’s proposed crypto policies and doubts about their enactment could prompt a significant market correction.”
Butterfill believes the reason Bitcoin may increase more than 60% of its current value this year is due to a favorable US regulatory environment.
Bitcoin is trading for $93,742 at time of writing, down 1.2% in the last 24 hours.
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