Galaxy Says Bitcoin to Hit $185K, ETH $5,500 in 2025

Bitcoin will hit $185,000 in 2025. Ether will hit $5,500, and Dogecoin will finally hit $1.

These are just some of the 23 predictions Galaxy Research unloaded in a Dec. 27 thread on social media platform X. They are, unsurprisingly, very bullish as a whole.

Sid Powell, CEO of decentralized finance (DeFi) lending platform Maple Finance, which focuses on unsecured loans to institutions and accredited investors, agreed.

“We’re optimistic about a strong crypto market in 2025, driven by institutional adoption of Bitcoin ETFs,” Powell told The Defiant in an email interview. “These products are making Bitcoin more accessible to traditional investors, and we project Bitcoin could reach $185,000 to $200,000 as it becomes a core component of diversified portfolios.”

That said, the bitcoin price prediction from Galaxy Digital Head of Research Alex Thorn is on par with other predictions. Investment manager VanEck is right there with them, at $180,000, and Standard Chartered puts it at $200,000.

Thorn added that at least one top wealth management firm would recommend a bitcoin allocation of at least 2% to clients and that bitcoin’s market capitalization would double, reaching “20% of Gold’s market cap” of about $18 trillion, or $3.6 trillion.

Thorn predicted bitcoin exchange-traded funds (ETFs) will grow to hold $250 billion in assets. Maple Finance’s Powell agreed, but he put it on a longer time frame than the end of 2025.

“The trajectory of gold ETFs offers a useful comparison; their inflows grew consistently after launch,” Powell said. “Similarly, we foresee Bitcoin ETF inflows surpassing $250 billion over the next few years, signaling broader acceptance of digital assets in the financial ecosystem.”

Ether Expands

On the ether front, Thorn pointed to the effects of a more positive and pro-crypto regulatory environment.

“New partnerships between DeFi and TradFi, perhaps conducted inside new regulatory sandbox environments, will finally allow traditional capital markets to experiment with public blockchains in earnest, with Ethereum and its ecosystem seeing the lion’s share of use,” he said.

Thorn added that corporations would begin to experiment more with their own Ethereum-based Layer 2 networks.

The final prediction of the thread put Doge’s price at $1 and its market cap “touching $100 billion.”

Stablecoin Upheaval

On the stablecoin front, Thorn predicted that the total supply would double to $400 billion, a number that seems reasonable, assuming other predictions about the price of cryptocurrencies skyrocketing take place.

However, Thorn pointed to the growing “product-market fit” stablecoins have found in payments, remittances and settlement, rather than their use in trading crypto.

Thorn wasn’t so bullish on Tether’s 2025, predicting that the dominant stablecoin would fall below 50% market dominance, pushed by yield producing alternatives like “Blackrock's BUIDL, Ethena's USDe, and even USDC Rewards paid by Coinbase/Circle.”

Tether, he predicted, may have to join the rush to offer holders yield.

A different analyst, who only signed his prediction as “JW”, predicted that 10 stablecoins will be launched by traditional finance institutions in 2025.

“Looking ahead, with growing regulatory clarity, TradFi players are expected to integrate stablecoins into their operations,” to tap into the first movers’ edge, he said.

Other predictions from Galaxy Research included Layer 2’s generating more economic activity than alternate Layer 1s and crypto venture capital firms investing more than $150 billion. Thorn added that the U.S. government will hold its bitcoin stockpiles but not buy any more.