Bitwise CIO: Bitcoin has undergone a strong price surge with expectations to exceed $200,000 by 2025, driven by three major sources of demand: Spot ETF, large companies such as MicroStrategy, and the government. The supply unable to meet the demand is the main factor driving the price up.
Growth and adoption: Bitcoin is becoming a global macro asset. Many investors, from individuals, institutions to the government, are becoming increasingly aware of the importance of owning Bitcoin. ETF funds and government support could push the value to the range of $300,000-$500,000 if a national Bitcoin reserve fund becomes a reality.
Coinbase: As a company greatly benefiting from this development, Coinbase could surpass Charles Schwab in the brokerage field, thanks to a limited competitive environment and regulatory compliance advantages. The company is experiencing strong growth, with high profit margins and expansion into services like stablecoins and Layer 2 networks.
In summary, Bitcoin and related companies like Coinbase are at the early stage of a major growth journey, supported by widespread acceptance and strong market drivers.