The CEO of Marathon Digital Holdings, Fred Thiel, is exuding confidence in Bitcoin (BTC), predicting remarkable growth for the digital asset by the end of 2025. In a recent interview on The David Lin Report, he expressed his belief that Bitcoin will commence a significant upward movement as we approach the inauguration of President-elect Donald Trump.
Thiel anticipates that Bitcoin might dip to levels reminiscent of late 2024, only to surge by approximately 108% from its current price in the following months. He elaborated, saying, “I think the majority of the people who look at Bitcoin price are expecting a correction into the low $90,000s, high $80,000s and then a return to growth ending somewhere approaching $200,000 by the end of next year. I think that’s a pretty valid scenario just based on the demand that we’re seeing kind of on the sidelines.”
In his analysis, Thiel highlighted the potential impact of the U.S. establishing a strategic Bitcoin reserve. He believes such an announcement could significantly influence Bitcoin’s price. “If a strategic reserve is announced [by the US], that will drive a relatively big push,” he stated. He pointed out that should other countries follow suit, the implications could be monumental, especially considering the limited supply of Bitcoin.
After all, there will only ever be 21 million Bitcoins, and roughly 20 million have already been mined. Even more striking is that approximately four million are sitting in wallets that are either inaccessible or locked away for various reasons, with a million of those belonging to the mysterious Satoshi wallet. With so much demand on a scarce resource, the situation becomes increasingly compelling.
Thiel also mentioned the growing interest from pension funds, which are eyeing allocations of 1% to 2% into Bitcoin. Coupled with the swift rise of Bitcoin ETFs, which have accumulated more assets in just a year than gold ETFs did in 20 years, the enthusiasm surrounding Bitcoin is palpable.
As of now, Bitcoin is trading at $96,200, and the market is abuzz with speculation about its trajectory.
Don’t miss out on key market updates – make sure to subscribe for email alerts that head straight to your inbox.
For all the latest price movements and market insights, you can follow us on X, Facebook, and Telegram.
Please remember, opinions shared here do not serve as financial advice. Always conduct thorough research before engaging in high-risk investments in Bitcoin or any other cryptocurrencies. Your trades and transfers are your responsibility, and it’s wise to proceed with caution.
