Presto Research head sets Bitcoin price target at $210,000

Peter Chung, head of research at quantitative trading firm Presto, has reiterated his prediction that Bitcoin (CRYPTO:BTC) could reach $210,000 by the end of 2025.  

In an interview, Chung pointed to institutional adoption and global liquidity expansion as the main drivers for his bullish long-term outlook.  

“In hindsight, I think it was actually a healthy correction which has paved the way for the further re-rating of Bitcoin as a mainstream asset,” he said, acknowledging that this year’s market conditions have been challenging but describing recent price corrections as “healthy.”

Chung emphasised Bitcoin’s dual nature, describing it as both a “risk-on asset” influenced by user adoption and network effects, and as “digital gold” during periods of financial instability.  

He noted that Bitcoin tends to act as a safe-haven asset in rare moments of doubt about the US dollar-dominated financial system, such as during the 2022 Russia-Ukraine conflict or the 2023 Silicon Valley Bank collapse.  

While Bitcoin has recently lagged behind gold during market turbulence, Chung suggested that it could “catch up” and potentially outperform traditional safe-haven assets by the end of the year.  

Chung also reaffirmed Presto’s target for Ether, maintaining confidence in Ethereum’s ongoing network upgrades and its valuation model based on the ETH-to-BTC ratio.  

Bitwise CEO Hunter Horsley echoed Chung’s view, noting that Bitcoin’s recent surge to $94,000 has occurred with minimal retail participation.

“The types of investors buying Bitcoin is expanding,” Horsley said, highlighting growing interest from institutions, advisers, corporations, and nation-states.

Corporate treasuries now hold nearly $65 billion in Bitcoin, according to BitcoinTreasuries.NET.  

Analysts from Standard Chartered and Intellectia AI have also suggested that institutional demand from ETFs and traders hedging macroeconomic risk could cause Bitcoin’s price to more than double this year.  

At the time of reporting, the Bitcoin price was $95,030.67.