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Bitcoin’s meteoric rise past $117,000 has investors asking the same question: Is there more room to run? According to two seasoned market veterans, the answer is a resounding yes—with a bold prediction that could make early 2025 believers very wealthy.
Bitwise‘s Head of Alpha Strategies Jeff Park and XBTO Managing Director Mas Nakachi believe Bitcoin could reach $200,000 by year’s end, driven by what they call a “wall of money” from an unexpected source: corporate treasury departments.
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The driving force behind this bullish outlook isn’t retail FOMO or even traditional institutional adoption—it’s a fundamental shift in how corporations view Bitcoin on their balance sheets. Park revealed that over $15 billion in corporate Bitcoin treasury purchases are lined up, a figure that dwarfs the first half of 2024’s Bitcoin ETF inflows.
“The structural change we’re seeing is a pretty meaningful one,” Park explained during a recent Coinage panel discussion. “And the other thing I love about these Bitcoin treasury companies, for the most part, these are never gonna sell Bitcoin.”
This last point is crucial. Unlike traders or even long-term investors who might eventually take profits, these corporate treasury buyers are essentially permanent holders. They’re treating Bitcoin as a strategic reserve asset, similar to how companies hold cash or bonds—except they’re not planning to liquidate.
The corporate treasury trend represents a seismic shift in Bitcoin’s demand dynamics. While previous bull runs were driven by retail speculation or institutional curiosity, this wave is characterized by what Park calls “permanent capital holding vehicles” in the discussion. These companies aren’t making tactical three-month trades; they’re making decade-long commitments.
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The timing couldn’t be more significant. Many of these treasury deals are expected to come online in Q3 2025 once U.S. Securities and Exchange Commission approvals are finalized. When that happens, Park and Nakachi predict it could trigger a supply shock that sends Bitcoin’s price soaring.
“We’re looking at incredible price action, possibly a supply shock, around September or October when these deals come online,” Park noted, calling his $200,000 target “low hanging fruit.”
However, both experts acknowledge Bitcoin faces a critical challenge that could determine its long-term viability. While the “store of value” narrative is currently driving Wall Street adoption, Bitcoin needs to evolve beyond just being digital gold.
The issue centers on Bitcoin’s “security budget”—the incentives that keep miners securing the network. With halving events reducing miner rewards every four years, the network increasingly depends on transaction fees to maintain security. Without utility and yield generation beyond storage, Bitcoin’s security could weaken over time, potentially undermining the very store-of-value proposition driving current adoption.
“This evolution is urgent, potentially within three years due to the next halving, rather than a decade,” the experts warn. Solutions like Botanics, which aims to bring scaling and smart contract programmability to Bitcoin without compromising security, represent the type of innovation needed to address this challenge.
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Perhaps most intriguingly, Park and Nakachi identify a “gap” in Bitcoin understanding that they see as bullish. Initially, technologists understood Bitcoin’s value as a hedge against global macro regimes while Wall Street remained skeptical. Now, the roles have reversed: Wall Street embraces Bitcoin as a “permanent capital vehicle,” while some technologists worry about Bitcoin being “bastardized” by financialization.
This emotional reaction and understanding gap, they argue, signals that Bitcoin is reaching a level of importance that will eventually be fully grasped by the market.
For investors, the message is clear: the current Bitcoin rally may be just the beginning. The combination of corporate treasury adoption, long-term institutional commitment, and the structural supply reduction from permanent holders creates a potentially explosive setup.
However, investors should remember that Bitcoin’s evolution challenge remains real. While the near-term outlook appears overwhelmingly bullish, Bitcoin’s long-term success depends on its ability to generate utility beyond just storing value.
The $200,000 target may seem ambitious, but with a $15 billion wall of corporate money preparing to enter the market, Bitcoin’s next chapter could be its most dramatic yet.
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This article This $15 Billion ‘Wall of Money’ Could Send Bitcoin To $200,000 By Year’s End—Here’s Why These Corporate Buyers Will Never Sell originally appeared on Benzinga.com
