KULR CEO Predicts Bitcoin Price to Hit $200,000 Soon

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KULR Technology Group, recently listed on the New York Stock Exchange, has made a bold forecast for Bitcoin price trajectory in the upcoming market cycle. Michael Mo, the company’s CEO, projects the BTC price could reach a peak value of $200,000 by 2025, driven by increasing global adoption and strategic investments by nations.

KULR CEO’s Bitcoin Price Prediction

Mo’s statement comes after KULR’s significant BTC purchase on January 6, acquiring over $21 million worth of BTC at an average price of $97,391. Hours later, Bitcoin price crossed the $100,000 mark for the first time since December 19, signaling renewed bullish momentum.

In a recent interview, Mo emphasized the transformative role of Bitcoin as a strategic reserve asset for governments. “The biggest catalyst is the adoption of a strategic BTC reserve by nations and states. US, Germany, Switzerland, and other [countries] are currently looking into it,” he explained.

KULR’s December acquisition of 217.18 BTC marked the initiation of its Bitcoin treasury strategy. The company intends to allocate up to 90% of its surplus cash to BTC through future purchases, underscoring its commitment to the flagship crypto.

Moreover, the potential approval of the US Bitcoin Act, backed by Wyoming Senator Cynthia Lummis, could further bolster Bitcoin’s value. The Act proposes the creation of a strategic Bitcoin reserve for the United States. Adam Back, CEO of Blockstream, believes Bitcoin’s price could surpass $1 million if the legislation is enacted.

Adding to the optimism, Arthur Hayes, former CEO of BitMEX, has predicted a crypto market peak by mid-March 2025, followed by a sharp correction. These developments suggest that Bitcoin price could experience significant volatility and growth in the coming months.

Also Read: Bitcoin Ends 2024 with Remarkable 121% Gain: Grayscale


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