According to Bitwise, there will be at least five “crypto unicorns” going public in 2025, including Circle, Kraken, Anchorage Digital, Chainalysis, and Figure.
The company’s investment chief, Matt Hougan, and research head, Ryan Rasmussen, stated in a report on December 10th that these companies will be selling shares to the public for the first time through an Initial Public Offering (IPO).
They attribute this prediction to the increasing demand from investors, the adoption by institutions, favorable market conditions, and a more favorable political climate. Hougan and Rasmussen also anticipate that Bitcoin’s value will reach $200,000 or more by the end of 2025, potentially surpassing gold’s market cap of $18 trillion by 2029.
In addition, they believe that Bitcoin could reach $500,000 or more in 2025 if the United States follows through on Senator Cynthia Lummis’ proposal for a strategic Bitcoin reserve that would purchase 1 million or more Bitcoin over five years.
However, Bitwise believes Bitcoin could still overtake gold without this reserve, although it would accelerate the process. Meanwhile, Bitwise predicts that Ethereum will rebound in 2025, reaching a high of $7,000.
