Top Bitcoin (BTC) bulls in 2025 have updated their price forecasts, and they range from a relatively cautious $130,000 to seven-figure moonshots.
Familiar doubters like gold bug Peter Schiff and economist Nouriel Roubini continue to predict a catastrophic ending for the world’s largest cryptocurrency. Meanwhile, Bitcoin spent the year with record-breaking rallies behind renewed institutional uptake.
It set a new all-time high of $111,970 on May 22 and has been trading near that level since, teasing investors with the possibility of a new ceiling.
Here are some of the boldest Bitcoin price predictions from the first half of 2025 (so far).
1. Adam Back says Bitcoin tops $1 million if US jumps in
Blockstream CEO Adam Back said in November that Bitcoin could break $1 million “this cycle” if the US follows through with plans to establish a Strategic Bitcoin Reserve. In March, the White House did just that, though it has yet to be codified into law by Congress.
The Bitcoin Reserve Act treats the world’s first blockchain-based cryptocurrency as a digital gold-style reserve asset, using coins seized from criminal cases.
US states have started laying the groundwork. New Hampshire broke the ice on May 6 by signing a Bitcoin reserve bill into law. Later in the month, Texas lawmakers advanced a bill to establish a strategic cryptocurrency reserve, backed by Governor Greg Abbott.
Speaking with Cointelegraph Magazine, Back gave a 2025 price target of “a few hundred thousand” dollars, citing renewed retail demand once roughly $16 billion in FTX bankruptcy repayments re-enter the market. He added that he is confident many of those investors will cycle back into the crypto market to fuel the next big rally.
2. Smart money agrees on Bitcoin’s year-end target
Several analysts have set $200,000 as their target for Bitcoin in 2025. Geoff Kendrick, global head of digital assets at Standard Chartered, has been one of the leading voices.
Kendrick said in an email note seen by Cointelegraph that Bitcoin is expected to hit $120,000 in the first half of 2025 en route to $200,000 by year-end, fueled by the rise of stablecoins.
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“The US Senate… voted 66-32 to advance the GENIUS Act,” Kendrick wrote in the email note. “The point of the stablecoin Act is that stablecoins will further legitimise the whole asset class. All boats will rise.”
During a recent Chain Reaction X Spaces show hosted by Cointelegraph, other analysts weighed in with their 2025 outlooks. André Dragosch, head of European research at Bitwise, agreed with Kendrick’s $200,000 year-end target. Markus Thielen added that Bitcoin has historically moved in $16,000 price increments, placing its next key resistance around $122,000.
Anthony Scaramucci, founder of SkyBridge Capital and former White House communications director, also recently set his year-end target at $200,000 in a media interview.
3. Novogratz eyes Bitcoin’s next price discovery range
Former Goldman Sachs partner and Galaxy Digital founder Mike Novogratz remains one of the most prominent Bitcoin bulls in finance.
Novogratz built a personal fortune through early investments in Bitcoin and Ether (ETH), though he also famously backed the failed algorithmic stablecoin project that led to the multibillion-dollar collapse of the Terra ecosystem.
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Following Galaxy Digital’s recent public listing, Novogratz appeared on CNBC to share his latest Bitcoin outlook. Compared to other bullish forecasts, he offered a relatively modest target ranging from $130,000 to $150,000, citing strong institutional flows, a weaker dollar and growing demand for digital assets as key drivers.
“We had a euphoric top right around the inauguration,” Novogratz said. “Now, it looks like we’ll take out [$106,000-$108,000] and make the next flight to [$130,000-$150,000] and at that point you’re in price discovery.”
4. Cathie Wood’s $1.5-million Bitcoin target
Cathie Wood, CEO and chief investment officer of ARK Invest, set her bull case forecast for Bitcoin at $1.5 million by 2030, which would require a compound annual growth rate of 58% over the next five years.
In a YouTube video published in February, she cited rising institutional interest as the key driver. Wood and ARK Invest are known for placing high-conviction bets on disruptive technologies, including early investments in Tesla and Bitcoin.
Wood also highlights stablecoins as a key player in rising blockchain-based economies. Source: ARK Invest
Robert Kiyosaki, author of Rich Dad Poor Dad, gave another seven-figure call, but over a longer timeline than Wood.
In an April 18 X post, he said that Bitcoin will have broken $1 million by 2035, alongside gold at $30,000 and silver at $3,000 per coin.
5. Bitcoin to $250,000 by year-end if the Fed pivots to QE
BitMEX co-founder Arthur Hayes said Bitcoin could soar to $250,000 in 2025 if the US Federal Reserve resumes quantitative easing (QE).
Writing in April, Hayes argued that Bitcoin is driven by expectations of fiat supply growth, and the Fed’s shift from quantitative tightening (QT) to easing would trigger a major rally.
“If my analysis of the Fed’s major pivot from QT to QE for treasuries is correct, then Bitcoin hit a local low of $76,500 last month, and now we begin the ascent to $250,000 by year-end,” he wrote.
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