Opinion: Speculative craze for Bitcoin and crypto-related stocks unlikely to subside by 2025

Odaily Odaily News Strategists believe that the speculative craze that swept Bitcoin and crypto-related stocks in 2024 is unlikely to subside in the new year. "2024 is a year of speculation, which has evolved into a self-fulfilling frenzy in recent weeks," said Steve Sosnick, chief strategist at Interactive Brokers. While these trades sometimes run into trouble, most recently after the Federal Reserve's December meeting, investors have been willing to buy on dips. "When something has been used by a lot of people for a long time, they are reluctant to give it up," Sosnick said. And these trades do work. Bitcoin hit an all-time high of more than $100,000 in December after expectations that Trump's election would create a friendly regulatory environment for cryptocurrencies. Cryptocurrency-related stocks have also been rising, led by software company and Bitcoin hoarder MicroStrategy, which has risen more than 400% this year. (Jinshi)