Bitcoin (BTC) could surge to $180,000 within the next year, driven by increasing institutional interest and supportive government policies, according to VanEck’s head of digital assets research Matthew Sigel.

In an interview on CNBC’s Squawk Box, Sigel forecasted that the flagship crypto could more than double its current price as it continues its upward trajectory through 2025.

‘Blue Sky Territory’

Bitcoin, which is currently priced at $88,723 after setting a new all-time high above $93,000 on Nov. 13, has experienced a dramatic rise over the past year, up more than 145%.

Sigel believes this is just the beginning of a much larger bull market. He told the CNBC hosts:

“We think it’s just started.”

Sigel added that Bitcoin’s recent volatility and subsequent gains are part of a broader cycle that is likely to see the crypto make repeated all-time highs over the next two quarters. He pointed to Bitcoin’s performance following the 2020 US election as a historical precedent.

Between the election and the end of that year, Bitcoin doubled in value despite experiencing multiple 10% corrections. Sigel expects a similar pattern to unfold in this cycle, noting that while Bitcoin’s price may fluctuate, the overall trend will remain upward.

He said:

“We’re now in blue sky territory, no technical resistance, and we think we’re likely to make repeated all-time highs.”

Institutional demand accelerating

Sigel also discussed the growing interest from institutional investors, noting a notable increase in the number of calls he’s receiving from investment advisors. These advisors, many of whom had previously avoided Bitcoin, are now seeking to add BTC to their portfolios.

Sigel said:

“The number of calls I’m getting inbound from investment advisors who are at zero and looking to get to 1% or at 1% and looking to get to 3%, these calls are starting to accelerate.”

According to Sigel, this surge in

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Author: Assad Jafri