BlockBeats news, on January 1, according to CNBC, Sid Powell, co-founder and CEO of the centralized finance platform Maple Finance, stated that by the end of 2025, the price of Bitcoin will reach between $180,000 and $200,000.
Powell, in an interview on CNBC's 'Squawk Box Europe,' said: 'If you look back at history, you will find that when gold ETFs emerged, inflows increased dramatically in the years following the first year of listing. I think we can expect a similar situation for Bitcoin ETFs. As Bitcoin and cryptocurrencies become core asset allocations for institutional asset managers, we will see more funds flowing in over the next few years.'
Powell believes another factor driving Bitcoin prices up is the expectation of the U.S. holding Bitcoin as a strategic reserve. Nevertheless, Powell remains cautious about market corrections. 'I think corrections will still occur; cryptocurrencies are still a cyclical industry.'
