Bitcoin Surges 46% to New High of $109,565 as Investors Embrace Risk

Bitcoin reached a new all-time high of $109,565 on Wednesday, marking a significant recovery from its low of $75,000 in early April. This rebound is attributed to a renewed appetite for risk among investors, following a shift in tone from President Trump, who has softened his trade war rhetoric and sought deals with trading partners after imposing substantial tariffs.

Experts in the crypto space are optimistic about Bitcoin's future, with some predicting it could reach $200,000. Adam Back, the CEO of Blockstream, forecasted that Bitcoin could hit $500,000 to $1 million during this cycle. He noted that the price of Bitcoin is surprisingly low given the institutional money involved and the recent halving event. Back believes that if Bitcoin reaches a new all-time high, it could quickly surge even higher.

Standard Chartered's digital assets research team is also bullish on Bitcoin, predicting it could reach $200,000 by the end of 2025. The bank's Global Head of Digital Assets Research, Geoffrey Kendrick, expects a strategic reallocation of assets away from U.S. assets to trigger the next sharp upswing in Bitcoin. He also forecasts that Bitcoin could reach $500,000 per coin by the start of 2029.

Investment firm Bernstein also expects Bitcoin's price to hit new highs, driven by institutional money. The firm forecasts that companies will acquire $330 billion in Bitcoin over the next five years. Bernstein analysts have predicted that Bitcoin's price will end 2025 at $200,000.

Billionaire entrepreneur Arthur Hayes predicts that intense central bank money printing will push Bitcoin's price to $150,000 this year. He believes that investors will seek to leave American assets behind, making Bitcoin the perfect lifeboat for global capital.

Tim Draper, a billionaire investor, recently stated that companies not holding Bitcoin on their balance sheets are being irresponsible. He predicts that Bitcoin will hit $250,000 by the end of 2025, citing a "gravitational pull toward Bitcoin."

Larry Fink, the CEO of BlackRock, suggested that if institutions like sovereign wealth funds continue to make small allocations to Bitcoin, its price could rocket upwards to $700,000. However, he clarified that he was not promoting the cryptocurrency with his bullish prediction.

Brian Armstrong, the CEO of Coinbase, forecasted that Bitcoin will be worth "multiple millions" at some point in the future. He believes that nation-state adoption will help propel the asset to such heights, although he acknowledges that Bitcoin has a long way to go before reaching that price point.