According to ChainCatcher, VanEck's head of digital assets, Matthew Sigel, stated in the Coin Stories podcast that Bitcoin's price could reach as high as $180,000 by 2025, noting that key indicators such as funding rates, unrealized profits, and retail speculation are the basis for this prediction. Sigel mentioned that VanEck has been 'bullish on Bitcoin' since 2017. However, he believes there is still a long way to go for corporate adoption of Bitcoin.
He said that many traditional asset management firms (such as Morgan Stanley and Merrill Lynch) are owned by banks and brokers, and their progress in incorporating BTC into financial strategies has been slow. They are hampered by a heavily regulated structure and reliance on traditional asset allocation models (such as the 60-40 portfolio), which have not yet adjusted to accommodate BTC ETFs.
Sigel said this also indicates that about 80% of BTC ETF holders are retail or high-net-worth investors who are either diversifying their investments from self-custody or expanding existing positions. He added that institutional asset management firms have not yet entered this space in a significant way.
