Is Bitcoin an effective hedge against inflation, just like gold? Quantitative trading firm Presto’s head of research Peter Chung certainly thinks so. Chung has doubled down on his bullish outlook for Bitcoin by predicting that the most popular cryptocurrency in the world will hit $210,000 by the end of 2025.
Speaking on CNBC’s Squawk Box Asia, Chung said that his market outlook hasn’t changed “Our target price remains $210K driven by institutional adoption and global liquidity expansion. Our targets reflect the community’s efforts to address the value leakage problem”.
Chung goes on to add that the health correction that the markets witnessed in April, “paved the way for further the re-rating of bitcoin as a mainstream asset”.
On being asked whether Bitcoin could go on to outrun physical gold in 2025? Chung spoke of the 2-faced quality of the token– one as digital gold and another as a risk on asset.
“It is during a crisis that Bitcoin can behave like gold because it’s designed after physical gold, but these moments are rare and it only happens when the markets have doubts about the stability of the US dollar dominated financial system. More recently, in the aftermath of the liberation day tariff announcement. So most times it acts as a risk on asset and during crises it acts like gold and that’s what we saw in April” he added.
Presto isn’t the only one that has doubled down on its Bitcoin target. Cathie Wood of Ark Investments in their “Big Ideas 2025” report claims Bitcoin has a shot at hitting $2.4 million by 2030 — but for now the firm is sticking to $1.5 million as its official five-year price forecast.
