Bitcoin’s “base case” for the end of 2025 is $200,000 without further government adoption, Bitwise’s head of research told Cointelegraph. Bitcoin’s expanding institutional adoption may provide the “structural” inflows necessary to surpass gold’s market capitalization and push its price beyond $1 million by 2029, according to Bitwise’s head of European research, André Dragosch. “Our in-house prediction is $1 million by 2029. So that Bitcoin will match gold's market cap and total addressable market by 2029,” he told Cointelegraph during the Chain Reaction daily X spaces show on April 30. The Bitcoin cycle may also be prolonged when US wirehouses start gaining exposure to Bitcoin and ETFs. Read more
Crypto once sought to replace banks. Now, in the fight over stablecoins, it’s forced to play by the same rules and get the same licenses. Crypto firms are no longer just challenging the traditional financial system they are increasingly becoming part of it. Companies like Circle and BitGo are reportedly pursuing banking charters and preparing for a wave of incoming stablecoin legislation that could further blur the lines between crypto firms and traditional banks. In the US, two major bills the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act and the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act aim to introduce new rules on stablecoin issuers, covering everything from reserve requirements to licensing and compliance obligations. Read more
Bitcoin is becoming a yield-generating asset class for institutions using DeFi strategies like staking, lending and Sharia-compliant tools. The demand for yield-generating strategies around Bitcoin (BTC) is surging, especially from firms seeking liquidity without liquidating their BTC, according to Ryan Chow, co-founder and CEO of Solv Protocol. During a fireside chat at the Token2049 conference in Dubai on May 1, Chow said institutional interest in Bitcoin yield products has grown exponentially over the past few years. Initially, generating Bitcoin yield was nearly impossible. However, recent innovations like staking via proof-of-stake (PoS) protocols and delta-neutral trading strategies have made this possible. Read more