Bitcoin investors are undoubtedly euphoric right now, and analysts predict that the cryptocurrency could surge to as high as $200,000 by mid-2025 due to strong institutional demand and historical post-halving trends. Bitfinex analysts project a price range of $140,000 to $200,000, with the market likely peaking in late 2025, approximately 450 days after the April 2024 halving event. They point to ETFs, institutional adoption, and bitcoin’s growing role as a global asset as key factors supporting this upward trajectory.
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On Tuesday, bitcoin hit a record high of $108,135 in New York, gaining 12% over the past week. David Foley, co-managing partner of the Bitcoin Opportunity Fund, said that the rally reflects real market momentum as investor confidence grows. Furthermore, MicroStrategy (MSTR), the world’s largest corporate Bitcoin buyer, has played a huge role in this surge and has further positioned its stock as a proxy for the cryptocurrency after adding 15,350 Bitcoins for $1.5 billion.
Could MicroStrategy Join the S&P 500?
Speaking of MicroStrategy, the firm is set to join the Nasdaq-100 index (NDX) on December 23, which has led to speculation about its potential inclusion in the S&P 500 (SPX). While the company meets most of the S&P eligibility criteria, it still needs to report positive earnings for both the latest quarter and the past four quarters.
However, MicroStrategy plans to adopt new Financial Accounting Standards Board guidelines for Bitcoin accounting in early 2025, which could help it achieve the required profitability. Inclusion in the S&P 500 could significantly boost MicroStrategy’s stock, as major ETFs tracking the index will have to buy the stock.
Is Bitcoin a Buy?
Using TipRanks’ technical analysis tool, the indicators seem to point to a positive outlook for Bitcoin. Indeed, the summary section pictured below shows that 15 indicators are Bullish, compared to four Neutral and three Bearish indicators.
