Donald Trump’s re-election has quickly proven a major bullish catalyst for Bitcoin (BTC) as the world’s premier cryptocurrency rallied 50.23% between November 5 and press time on December 16.
Furthermore, the President-Elect has given investors much to look forward to – at least in terms of promises and rhetoric.
Specifically, he pledged to make the U.S. the digital assets capital of the world, create a strategic BTC reserve, and nominated a number of blockchain-friendly individuals for critical government and regulatory positions, including for the Securities and Exchange Commission (SEC) Chair.
Under such circumstances, there has been no shortage of bullish price targets with $250,000 appearing a popular choice for 2025 as it is, at press time, the forecast provided by legendary Wall Street analysts like Tom Lee and consistent – if unreliable – BTC bulls like Robert Kiyosaki.
Still, by December 13, another and unprecedented optimistic prediction appeared when Perianne Boring, the Founder and CEO of The Digital Chamber, estimated Bitcoin could rise above $800,000 before the end of next year, per the stock-flow model.
Should BTC climb to such a price, it would boast a market capitalization of approximately $15 trillion – $13 trillion above the late 2024 valuation – and would be less than $3 trillion from overtaking the biggest asset in the world, gold.
On the other hand, for Bitcoin to truly become bigger than gold, the precious metal would either have to decline from its press time prices, or the cryptocurrency would have to rise another $100,000 to the price of approximately $900,000.
Finally, it is worth pointing out that, shortly before outlining the price target, Boring reflected on the hoped-for regulatory clarity under Donald Trump as a major driver of cryptocurrency investments and industry.
Indeed, she described the situation under the Biden administration – believed by many to be marked and marred by a turf war between the SEC and the CFTC over digital assets – as hostile to blockchain companies and developers.
$800,000 Bitcoin price target ambitious, but not out of reach
Despite the bullishness, both $250,000 and $800,000 remain highly ambitious targets. Since the start of 2024 – an indubitably strong year for the cryptocurrency market – Bitcoin rocketed 146% to its press-time price of $104,172.
For comparison, a rally from the December 16 price to $250,000 would require a 139% surge and 667.98% for a rise to $800,000. Still, considering the magnitude of the rally since November 5, the fact that the forecasts are optimistic does not indicate they are implausible.