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Peter Chung, head of research at quantitative trading firm Presto, has repeated his prediction that Bitcoin (BTC<\/a>) will reach $210,000 by the end of 2025.<\/p>\n In an April 28 interview<\/a> with CNBC, Chung cited institutional adoption and global liquidity expansion as the primary drivers behind his long-term bullish outlook.<\/p>\n The analyst acknowledged that market conditions this year haven\u2019t been as expected, specifically the challenging macroeconomic environment and market reaction.<\/p>\n However, he described the recent corrections as a \u201chealthy\u201d adjustment, suggesting they have laid a stronger foundation for Bitcoin\u2019s progression toward becoming a mainstream financial asset.<\/p>\n \u201cIn hindsight, I think it was actually a healthy correction which has paved the way for the further re-rating of Bitcoin as a mainstream asset,\u201d he said.<\/p>\n Related: <\/strong><\/em>Bitcoin trades at \u201840% discount\u2019 as spot BTC ETF buying soars to $3B in one week<\/strong><\/em><\/a><\/p>\n Chung also discussed Bitcoin\u2019s dual nature, describing it as both a \u201crisk-on asset\u201d and \u201cdigital gold.\u201d<\/p>\n He said that Bitcoin typically behaves like a high-risk asset driven by user adoption and network effects.<\/p>\n However, during periods of financial instability, such as the 2022 outbreak of the Russia-Ukraine conflict or the 2023 Silicon Valley Bank collapse, Bitcoin tends to act as a safe-haven asset, similar to gold.<\/p>\n \u201cThese moments are rare,\u201d Chung explained, \u201c[They] only happened when the market has doubts about the stability of the US dollar-dominated financial system.\u201d<\/p>\n While Bitcoin has lagged behind gold during recent market turbulence, Chung suggested BTC could \u201ccatch up\u201d and potentially outperform traditional safe-haven assets by year\u2019s end.<\/p>\n Chung also reaffirmed Presto\u2019s target for Ether (ETH<\/a>), maintaining its valuation model based on the ETH-to-BTC ratio, reflecting confidence in Ethereum\u2019s ongoing network improvements.<\/p>\n Related: <\/strong><\/em>New Bitcoin price all-time highs could occur in May<\/strong><\/em><\/a><\/p>\n Echoing Chung\u2019s view, Bitwise CEO Hunter Horsley said in a recent post on X that Bitcoin\u2019s surge to $94,000 has occurred with minimal retail participation, noting that Google searches for \u201cBitcoin\u201d remain near long-term lows.<\/p>\n According to Horsley, the current rally is being driven by institutional investors<\/a>, financial advisers, corporations, and even nation-states.<\/p>\n \u201cThe types of investors buying Bitcoin is expanding,\u201d Horsley said.<\/p>\n Corporate Bitcoin treasuries already hold nearly $65 billion worth of BTC, according to\u00a0data<\/a> from BitcoinTreasuries.NET.<\/p>\n On April 22, analysts from Standard Chartered and Intellectia AI said institutional Bitcoin demand from exchange-traded funds and traders seeking to hedge against macroeconomic risk could cause Bitcoin\u2019s price to more than double this year<\/a>.<\/p>\nBitcoin\u2019s dual role <\/h2>\n
Bitcoin hits $94,000 as institutional adoption expands<\/h2>\n