Bloomberg Analyst Predicts Worst Crypto Performance in 2025, Sees Bitcoin Reaching $10,000

Mike McGlone, a senior commodity strategist at Bloomberg Intelligence, predicts that cryptocurrencies will underperform all major asset classes in 2025. He expects Bitcoin and Treasury bonds to be the best-performing assets. McGlone's $10,000 Bitcoin price prediction remains unchanged despite the cryptocurrency reaching an all-time high of $122,838 in July.

The debate over Bitcoin's potential price trajectory in 2025 has intensified, with a handful of industry figures and analysts pushing bullish forecasts. Samson Mow, CEO of Bitcoin technology firm JAN3, remains steadfast in his belief that Bitcoin could hit $1 million by 2025 or even 2024, citing the asset's long-term scarcity and ongoing narrative around institutional adoption [1].

Similarly, Plan B, the creator of the Bitcoin stock-to-flow model, initially projected the cryptocurrency would average $500,000 in 2025 and trade within a range of $250,000 to $1 million. However, this forecast was adjusted in July to a more moderate $500,000 average for the 2024–2028 halving cycle [1]. Jeff Park of Bitwise Asset Management also cited a $1 million price tag for Bitcoin in 2025, conditional on the U.S. establishing a strategic Bitcoin reserve, a move that President Donald Trump recently signed into executive order [1].

Despite these ambitious forecasts, the current market reality presents a stark contrast. As of now, Bitcoin is trading around $118,000. To reach $500,000 by year-end would require a 323% increase in just five months, while reaching $1 million would necessitate a 750% surge. Given the asset’s performance—83% growth over the last year and 305% over two years—such returns would demand unprecedented macroeconomic conditions [1].

Notably, key figures from Wall Street have offered more tempered outlooks. Tom Lee, a Wall Street strategist, and Tim Draper, a venture capitalist, both suggest a realistic target of $250,000 by the end of 2025. Bitwise Asset Management has also set a target of over $200,000 [1]. These figures, while optimistic, reflect the more cautious tone of traditional financial markets.

Mike McGlone, a senior commodity strategist at Bloomberg Intelligence, predicts that cryptocurrencies will underperform all major asset classes in 2025. He expects Bitcoin and Treasury bonds to be the best-performing assets. McGlone's $10,000 Bitcoin price prediction remains unchanged despite the cryptocurrency reaching an all-time high of $122,838 in July.

Analysts suggest that to realize the more aggressive forecasts, Bitcoin would need to experience sharp regulatory shifts, widespread institutional adoption, or significant geopolitical developments. At the moment, the market is still assessing these possibilities, with no clear consensus emerging.

References:
[1] Will Bitcoin Reach $500,000 Or Even $1 Million In 2025? — Exploring Over-Ambitious BTC Forecasts For 2025, (https://www.benzinga.com/crypto/cryptocurrency/25/08/46815519/will-bitcoin-reach-500000-or-even-1-million-in-2025-exploring-over-ambitious-btc-forecasts-for-2025?utm_source=coingecko&utm_campaign=partner_feed&utm_medium=partner_feed&utm_content=site)