Crypto analyst Scott Melker believes that Bitcoin could reach $300,000 by 2025.
The approval of Bitcoin Spot ETFs has opened the door for massive institutional investment.
The increase in political support for crypto, especially from figures like Donald Trump, is making the asset class more legitimate.
Sovereign wealth funds, especially from the Middle East, are beginning to allocate capital to Bitcoin.
More companies are following MicroStrategy's lead by adding Bitcoin to their balance sheets.
For a long time, Bitcoin has been a lightning rod for speculation and debate. However, as the cryptocurrency heads further into the current cycle, several major developments are lining up to fuel what could be Bitcoin’s biggest bull run yet.
Scott Melker, a well-known crypto analyst and host of The Wolf of All Streets podcast has been a major proponent of this outlook.
According to Melker, Bitcoin’s price could soar as high as $300,000 by 2026.
As of now, Bitcoin is trading just above $100,000, after pulling back slightly from its record highs in late May.
So far, Investor sentiment has been weighed down by everything from macroeconomic uncertainties to investor sentiment.
Some of these factors include the ongoing concerns over U.S. trade tariffs and the country’s slowing economic growth.
Still, despite this temporary dip, Melker insists that the bull market is far from over.
Predictions for Bitcoin
He pointed towards Bitcoin’s strong institutional inflows and growing market maturity, as signs that Bitcoin is no longer just a speculative asset.
Instead, it is quickly becoming a major portfolio holding.
Even in a climate of global volatility and rising bond yields, Bitcoin’s price resilience shows that investor mindset is changing by a great deal.
Here are four of the biggest catalysts for an incoming push towards $300,000
One of the biggest milestones in Bitcoin’s journey to mainstream acceptance has been the approval of spot Bitcoin exchange-traded funds (ETFs).
This development, which was led by asset management giants like BlackRock, has opened the floodgates for institutional investors.
This class of investors previously avoided the crypto space due to regulatory or custodial concerns and are now jumping in en-masse
In addition, BlackRock CEO Larry Fink's vocal support for Bitcoin has been a major turning point.
According to Melker, with institutional credibility behind it, Bitcoin is now being treated as a serious and strategic asset.
These ETFs have already begun to attract billions in inflows and are creating a constant demand for Bitcoin that could continue to push prices higher through 2025.
The second major catalyst is political endorsement, especially from US President Donald Trump, who has made a major pivot over the last few years towards supporting crypto and NFTs.
His public embrace of crypto has helped to legitimize the space in the eyes of millions of voters and investors.
According to Melker, this is a "massive catalyst" for mainstream attention. For the first time, crypto is becoming a political talking point, and that could translate into more favorable policy frameworks in the future.
Trump goes all in on crypto
This will be useful, especially for an environment where regulation has often been seen as a threat to the industry.
This shift in tone has been a welcome change, and it could encourage more institutions to embrace crypto investments.
Melker also pointed out the increasing interest from sovereign wealth funds, especially those based in oil-rich regions like the Middle East.
While these funds are only beginning to make inroads into Bitcoin, their possible input could be enormous.
According to Melker, if just 1% of global sovereign wealth fund capital were allocated to Bitcoin, the demand shock could drive prices higher.
Considering Bitcoin's fixed supply, even modest institutional inflows can have a massive impact on price.
Finally, there's the trend of companies adding Bitcoin to their balance sheets.
This practice was popularized by MicroStrategy and its CEO Michael Saylor. However, it has since been adopted by other firms looking to hedge against inflation and store long-term value.
Even though corporate treasury adoption is not a new concept, Melker argues that its continuation is great for driving Bitcoin as a financial tool, not just a speculative asset.
With all these factors in play, Melker believes that a Bitcoin price between $130,000 and $150,000 is a conservative estimate for the rest of the year.
However, if momentum continues, the upper end of his forecast is $230,000 to $300,000.
“To go to $150K is a rounding error from here,” Melker said.
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