Bitcoin Could Top $300,000 This Year, New HashKey Survey Claims

Extensive market research by HashKey Group shows that Bitcoin could rise above $300,000 by 2025, driven by unprecedented institutional capital flows and growing mainstream financial adoption.

The Hong Kong-based digital asset company’s annual forecast report gathered input from nearly 50,000 community members.

It comes as Wall Street deepens its commitment to crypto, with several major financial players choosing to provide services related to the sector.

The crypto market is “poised for extraordinary growth,” said HashKey Group Chairman and CEO Dr. Xiao Feng, in the market predictions posted published Tuesday evening.

It comes as Bitcoin recovered the $100,000 level earlier on Wednesday inflation rates and CPI data were released.

This followed a volatile week in which expectations surrounding macroeconomic figures were significant institutional outflow.

HashKey Group’s top forecast sees the story for Bitcoin as “digital gold” well into this year, projecting a crypto market cap of $10 trillion before the year ends. According to CoinGecko, the Crypto market cap is approximately $3.64 trillion.

Modest prospects

Maelstrom Fund CIO Arthur Hayes recently predicted a spike in the crypto market between mid-to-late March, citing a “positive dollar liquidity environment” as the December “Trump dump” levels off.

Meanwhile, HashKey’s research also predicts that Wall Street’s involvement in crypto could create a “digital oil” story for Ethereum, which it predicts could reach around $8,000 by the end of the year.

HashKey also sees Security Token offerings, exchange-traded funds and Central Bank digital currencies as key drivers that could collectively bring approximately $3 trillion in fresh capital to the crypto markets.

Riding the wave

This institutional wave follows the approval of several US spot Bitcoin ETFs a year ago and growing interest in them diversification of industries led by MicroStrategy.

Countries around the world are also jumping on the bandwagon with considerations to stockpile Bitcoin national reserve.

Supporting these bullish projections, ARK Invest’s December 2024 Bitcoin report highlights the strong underlying market fundamentals.

“All years after the halving have ended with positive returns. 2025 is one year after the halving,” ARK wrote.

While on-chain metrics show a mixed picture with signs of overheating in the derivatives market, broader economic tailwinds indicate that “short-term overheated conditions” in the Bitcoin market could continue, ARK added.

Notably, more than 62% of Bitcoin’s circulating supply has remained idle for more than a year, data from ARK’s report shows, indicating robust behavior among Bitcoin investors to continue holding ownership.

Edited by Sebastian Sinclair