Bitcoin’s Record Run Strengthens $150,000 Year-End Target

Bitcoin has surged to fresh record highs this week, breaking above $123,000 and pushing beyond July’s peak. The move comes on the back of extraordinary institutional demand, growing corporate treasury adoption, clear policy tailwinds from Washington, and substantial profits for sovereign holders. 

Taken together, these forces are setting the stage for the next leg higher — and they keep my $150,000 year-end projection firmly on track.

The world’s largest cryptocurrency has climbed more than 31% since the start of the year, and it is now around 60% higher than April’s market lows. 

These gains aren’t just a reflection of speculative enthusiasm. They are the result of profound, interconnected shifts in the way both the private and public sectors view Bitcoin.

The scale of institutional inflows is unlike anything we have seen before. US spot Bitcoin ETFs are now deep, liquid products that rival major equity and bond funds in trading activity. 

BlackRock’s IBIT, for example, traded more than $3.7 billion in a single day this week. Fidelity’s FBTC recorded over $500 million in the same session. These aren’t isolated spikes — they reflect steady, committed flows from professional investors who have mandates to deploy large sums of capital into assets with long-term growth potential.

The corporate world is also accelerating its exposure. Some of the most prominent names in public markets are following a playbook that began as a bold experiment and is now proving to be a powerful balance-sheet strategy. 

Strategy, the Bitcoin-focused firm led by Michael Saylor, announced this week that its BTC holdings are valued at $77.2 billion — a staggering $35.4 billion increase from its previous peak in 2024. This isn’t just a line item; it’s a strategic asset that is delivering outsized value for shareholders.

At the national level, adoption is no longer hypothetical — it’s paying off in real terms. El Salvador’s Bitcoin reserves have generated an unrealised profit of more than $468 million on an initial investment of $300.5 million. That portfolio is now worth over $768 million. These figures send a clear message to other governments: Bitcoin can function as a legitimate sovereign asset with tangible financial benefits.

On the policy front, there has been a decisive change in tone from Washington. Last week, President Donald Trump issued an executive order instructing the Labor Department to explore allowing 401(k) plans to hold cryptocurrencies and other alternative assets. 

This could open the door for enormous flows of retirement capital into Bitcoin — a steady, long-horizon source of demand that would further anchor its position in mainstream finance.

It is natural to expect volatility when prices move this far and this fast. There will be moments when traders take profits and the market consolidates. These are features, not flaws, in a healthy bull market. 

What matters is the strength of the structural drivers beneath the price action. Institutions are locking in long-term positions. Corporate treasuries are diversifying into Bitcoin for strategic reasons. National portfolios are producing measurable returns. The US administration is encouraging integration rather than imposing resistance.

One of Bitcoin’s most powerful characteristics — and a key reason I remain confident in the $150,000 target — is its capped supply. The fixed issuance rate means that as demand rises, the available float shrinks. 

This scarcity is being amplified by the type of buyers now in the market: institutional funds, corporate treasuries, and sovereign wealth allocations. These entities typically buy in large quantities and hold for the long term, reducing liquidity further and tightening supply-demand dynamics.

Each pullback we’ve seen in recent months has been met with aggressive accumulation. This isn’t driven by speculative traders looking for quick flips; it’s driven by market participants with deep pockets, long time horizons, and strategic intent. When these kinds of buyers dominate, dips tend to be shallow and short-lived.

The macroeconomic environment is also adding fuel. Anticipation of looser monetary policy is making assets with store-of-value characteristics more attractive. 

In periods when interest rates are expected to fall, capital often moves toward assets perceived to offer protection against currency depreciation and purchasing power erosion. Bitcoin has increasingly taken on that role in the eyes of both institutional and retail investors.

We are now in a phase where policy, liquidity, and adoption are all aligned in Bitcoin’s favour. Institutional demand is broadening. Corporate balance sheets are treating it as a reserve asset. Sovereign adoption is delivering real returns.

The US government is opening the door to retirement account exposure. All of this is happening against the backdrop of a finite supply.

The path to $150,000 will not be a straight line. There will be corrections along the way, and periods of consolidation will be healthy. But the direction of travel is, in my view, firmly upward. The buyers in this market are not chasing hype — they are positioning for a multi-year shift in the structure of global finance.

With Bitcoin now within sight of $125,000, the next milestone could come sooner than many expect. Whether it’s days or weeks away matters less than the fact that the market’s foundation is stronger than ever. The forces driving this rally are not transient; they are deep, durable, and accelerating.

I believe Bitcoin’s record run is far from over. The momentum is there. The fundamentals are there. The buyers are there. And, we believe, so is the path to $150,000 by year-end.