Peter Chung from Presto predicts Bitcoin could hit $210,000 by 2025, citing institutional adoption and liquidity expansion. Despite tough market conditions, he sees recent corrections as foundational for Bitcoin’s mainstream acceptance. Chung describes Bitcoin’s dual role as both a risk asset and safe haven. Bitwise CEO Hunter Horsley highlights Bitcoin’s rise to $94,000, largely driven by institutional investors, with corporate holdings reaching $65 billion.
Peter Chung, the research head at Presto, has reiterated his bold forecast, declaring that Bitcoin (BTC) could reach a staggering $210,000 by the conclusion of 2025. In a CNBC interview on April 28, Chung pointed to the growing institutional adoption and expanding global liquidity as key factors behind his optimistic view on Bitcoin’s future.
Despite the rocky market conditions so far this year, Chung remains hopeful. He remarked that, while the current macroeconomic climate has been tough, the recent corrections in Bitcoin’s value actually reflect a necessary reset, cementing a more solid foundation for its rise as a legitimate financial asset.
Chung commented, “I think it was actually a healthy correction which has paved the way for the further re-rating of Bitcoin as a mainstream asset,” suggesting a positive outlook amidst current challenges.
He also discussed Bitcoin’s unique role as both a “risk-on asset” and a store of value, or “digital gold.” In his view, Bitcoin behaves like a high-risk asset when market conditions are positive but shifts to a safer role during crises, such as the ongoing global conflicts and financial system disruptions. “These moments are rare,” he said, referring to times when investor confidence in traditional currencies wanes.
Chung mused that while Bitcoin hasn’t kept pace with gold during recent market upheavals, it may well rebound and surpass traditional safe-haven assets by the close of the year. He also stood by Presto’s valuation targets for Ether (ETH), which are based on its relationship with Bitcoin, particularly looking at Ethereum’s developmental progress.
Similarly, Bitwise CEO Hunter Horsley weighed in on Bitcoin’s recent price trajectory, which has soared to $94,000 despite minimal retail interest—Google searches for Bitcoin are reportedly near historic lows. He indicates that this rally is driven by institutional players, including corporate treasuries and even entire nations diving into Bitcoin.
“The types of investors buying Bitcoin is expanding,” Horsley noted, reinforcing the growing institutional presence in the crypto space. Furthermore, according to data from BitcoinTreasuries.NET, corporate treasuries are now sitting on nearly $65 billion worth of Bitcoin. In recent insights from analysts at Standard Chartered and Intellectia AI, the notion that institutional Bitcoin demand from various channels could potentially double Bitcoin’s price this year is gaining traction, adding fuel to the ongoing discussion about the future of cryptocurrencies and investment strategy in the evolving market.
