VanEck Research Director: BTC is expected to reach $180,000 next year, but enterprise adoption is still insufficient

Odaily reported that Matthew Sigel, Head of Digital Assets Research at VanEck, stated in the Coin Stories podcast that Bitcoin's price could reach $180,000 by 2025, and pointed out that key indicators such as funding rates, unrealized profits, and retail speculation are the basis for this forecast. Sigel said that VanEck has been "bullish on Bitcoin" since 2017. However, he believes that the adoption of Bitcoin by enterprises still has a long way to go. He said that many traditional asset management companies (such as Morgan Stanley and Merrill Lynch) owned by banks and brokers are progressing slowly in incorporating BTC into their financial strategies. They are constrained by the strict regulatory structure and their dependence on traditional asset allocation models (such as the 60-40 investment portfolio) and have not yet adjusted to accommodate BTC ETFs. Sigel also noted that this indicates that about 80% of BTC ETF holders are either retail or high-net-worth investors, who are either diversifying from self-custody or expanding their existing positions. He added that institutional asset management companies have not yet entered this field in a big way.