Bitwise Asset Management anticipates significant growth in the cryptocurrency landscape, predicting that at least five major firms, termed “crypto unicorns,” are set to go public in 2025. This list includes well-known stablecoin issuer Circle, prominent crypto exchange Kraken, and other organizations such as Anchorage Digital and Chainalysis, a blockchain analytics firm. The predicted IPO wave is rooted in increased investor interest, institutional adoption, and a favorable macroeconomic and political environment.
The firm’s investment authorities project that Bitcoin (BTC) could skyrocket to over $200,000 by the end of 2025. There is even speculation that Bitcoin might surpass gold ’s current market cap of about $18 trillion by 2029. A potential strategic reserve initiative proposed by lawmakers could accelerate this growth, possibly pushing Bitcoin to reach $500,000 next year. Ether (ETH) is also expected to rebound, with forecasts suggesting a peak of $7,000, driven by a surge in Ethereum layer 2 activity and increased flows from Ether-related ETFs.
Additionally, Bitwise predicts that Coinbase could see its shares more than double, reaching $700 and potentially becoming the most valuable brokerage platform, thus gaining entry into the S&P 500. The anticipated growth is attributed to Coinbase’s revenue diversification, including its offerings in stablecoins and staking services. Both Coinbase and MicroStrategy are anticipated to make strides in the stock market indices during their next rebalance, significantly affecting their share prices.
In terms of market inflows, Bitwise expects US spot Bitcoin ETFs to increasingly attract institutional investments, surpassing the previous year’s inflows significantly. The growth of real-world asset tokenization is also expected to rise, capitalizing on advantages such as liquidity and cost-effectiveness compared to traditional securitization methods. This evolving landscape is seen as a vital shift in the market dynamics, driven by advancements in technology and regulatory changes.
