The leading asset manager Vaneck‘s projection of $180,000 for bitcoin (BTC) by the end of 2025 is “ambitious but not unrealistic.” According to Bill Qian, chairman of Cypher Capital, while the top cryptocurrency has surged more than 50% since Nov. 5, a run to the figure projected by Vaneck is possible because BTC has “consistently outperformed market expectations during past bull cycles.”

Qian’s sentiments are echoed by Ryan Chow, CEO and co-founder of Solv, who suggests that the market has already priced in President-elect Donald Trump’s inauguration on Jan. 20, 2025. However, Chow asserts that the market is yet to factor in Securities and Exchange Commission Chairman Gary Gensler’s departure. He argues that this, along with the U.S. declaring BTC a strategic reserve, makes this projection “a real possibility.”

On the possibility of BTC dominance surging past 60%, both experts concur that a Trump administration move to declare it a strategic reserve could be a key moment. However, Chow believes that other countries and corporations joining the U.S. in declaring BTC a strategic reserve is also key to helping the crypto asset’s dominance grow past the 60% mark.

After touching a high of nearly 70% on April 1, 2021, BTC dominance began declining and, by Nov. 28, 2022, had reached 37.9%. However, starting in December 2022, the top crypto asset’s market dominance began to rise gradually, reaching approximately 60% a few weeks after Trump won his second term.

Although BTC’s dominance dropped marginally at the onset of the altcoin season, Qian, like his counterpart at Solv, believes the Trump administration’s consideration of BTC as a strategic reserve would see its market share grow past 60%.

“If the U.S. were to consider Bitcoin as a strategic reserve asset, its dominance in the market could rise well beyond 60%. This would reaffirm Bitcoin’s role as digital gold and encourage broader adoption by other nations, potentially sparking a race among countries to integrate Bitcoin into their financial strategies,” the Cypher Capital chairman said.

Turning to the government’s opposition to crypto, both experts concurred that the U.S. is unlikely to become supportive of crypto overnight due to concerns over consumer protection and financial stability. Furthermore, any pro-crypto legislation will likely encounter opposition from individuals or groups aligned with traditional financial institutions that may feel threatened by decentralized systems.

To counter this, stakeholders in the crypto industry must increase engagement with crypto-friendly politicians and help keep the electorate informed. Doing so could eventually tip the scales in favor of supportive legislation, Qian argued.

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