Emre Yumlu 
Peter Chung, head of research at quantitative trading firm Presto, has reiterated his bold forecast that Bitcoin could reach $210,000 by the end of 2025.
Speaking in an interview with CNBC on April 28, Chung pointed to growing institutional adoption and the expansion of global liquidity as the primary factors behind his bullish stance.
While acknowledging that this year’s macroeconomic conditions have not unfolded as initially expected, Chung described the recent market pullbacks as “healthy corrections,” suggesting they have laid a stronger foundation for Bitcoin’s rise as a mainstream financial asset.
“Looking back, I believe these corrections were necessary steps that have paved the way for Bitcoin’s long-term revaluation,” he said.
Bitcoin’s Dual Identity: A Risk Asset and Digital Gold
Chung also emphasized Bitcoin’s unique nature, explaining that it typically acts as a high-risk investment driven by user adoption and network expansion.
However, during times of financial instability — such as the Russia-Ukraine conflict in 2022 or the collapse of Silicon Valley Bank in 2023 — Bitcoin has often behaved like a safe-haven asset similar to gold.
“These instances are rare,” Chung noted, adding that Bitcoin tends to assume this role only when confidence in the US dollar-centered financial system weakens.
Although Bitcoin recently lagged behind gold amid market turbulence, Chung remains confident that BTC could catch up and potentially outperform traditional safe-haven assets by the end of the year.
He also reiterated Presto’s positive outlook on Ethereum, mentioning that their valuation models based on the ETH-to-BTC ratio still hold strong, driven by ongoing network improvements.
Institutional Demand Drives Bitcoin to $94,000
Supporting Chung’s perspective, Bitwise CEO Hunter Horsley recently highlighted on X that Bitcoin’s climb to $94,000 has been largely fueled by institutional investors, while retail participation remains historically low.
According to Horsley, major buyers now include financial advisors, corporations, and even sovereign entities, signaling a shift in the market’s structure.
“The types of investors entering the Bitcoin market are evolving,” Horsley commented, underlining the growing sophistication of market participants.
Meanwhile, data from BitcoinTreasuries.NET reveals that corporate Bitcoin holdings have now reached nearly $65 billion.
Recent analyses by Standard Chartered and Intellectia AI suggest that demand from ETFs and investors seeking to hedge against macroeconomic risks could potentially more than double Bitcoin’s price within this year.
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