According to the analyst from Bloomberg, Bitcoin could soon be on course for $100,000
Analyst Mike McGlone from Bloomberg expects Bitcoin to continue to grow in value over the coming years.
Bitcoin surprised much of the financial world this year after recovering strongly from the market crash seen in March as the pandemic impacted global markets.
McGlone believes that Bitcoin will continue to go from strength to strength in the 2020s, predicting the $100,000 mark will be hit by 2025. Claiming that adoption will provide Bitcoin with the push it needs to hit new-all-time highs, there has been a great deal of indications of this over the last couple of years. In recent news, Bitcoin has been increasingly adopted in Egypt and in sub-saharan Africa as a way to secure savings for young people.
So if adoption is supposedly on the rise, why have we seen the rise of DeFi projects and seen Ethereum taking the headlines? Ethereum could well overtake the top crypto when ETH 2.0 launches later this year and adoption of the smart contracts platform overtakes Bitcoin.
If we do see $100,000 Bitcoin in the next five years, it would represent an ROI of roughly 10X from today’s prices — a very respectable return for investors looking for a long term investment.