Tanahub.com — Crypto exchange-traded fund (ETF) issuer Bitwise predicts that five crypto unicorns will go public by 2025. The five companies expected to launch initial public offerings (IPOs) include stablecoin issuer Circle, crypto exchange Kraken, crypto bank Anchorage Digital, analytics firm Chainalysis, and crypto exchange Figure.
This prediction is outlined in Bitwise’s report titled “10 Crypto Predictions for 2025,” authored by Bitwise Chief Investment Officer Matt Hougan and Head of Research Ryan Rasmussen on December 10, 2024.
“Crypto prices are rising, investor demand is increasing, institutional adoption is surging, blockchain technology has gone mainstream, the macro environment is supportive, and—perhaps most importantly—the political environment has warmed. These are the factors supporting IPOs,” Bitwise wrote.
Coinbase to Become the Largest Brokerage Firm in the World
In its report, Bitwise also predicts that by 2025, Coinbase—the first crypto company to go public—will surpass Charles Schwab as the brokerage firm with the largest valuation in the world. Its stock price is expected to exceed $700 per share.
Since becoming a public company in April 2021, Coinbase’s stock price has grown significantly, especially over the past two years. At the end of 2023, Coinbase shares traded around $35 but have reached $344 as of December 2024, nearly a tenfold increase.
Bitwise forecasts this trend will continue, with Coinbase’s stock price surpassing $700 by 2025.
Coinbase’s revenue from its new business lines reached $589 million through the third quarter of 2024, a 106% increase compared to the same period last year. This figure is projected to exceed $1 billion in 2025.
BTC, ETH, and SOL to Reach New ATHs in 2025
Bitwise also predicts that Bitcoin (BTC) will hit $200,000 or more by the end of 2025 and could surpass gold’s current market capitalization of $18 trillion by 2029.
Bitcoin is even projected to reach $500,000 or more next year if the United States implements Senator Cynthia Lummis’ plan to include Bitcoin in the national strategic reserves by purchasing over 1 million BTC within five years.
Bitwise also forecasts Ether (ETH) will recover in 2025 and hit a new all-time high (ATH) of $7,000. This surge will be driven by increased activity on Ethereum’s layer-2 networks, inflows from Ether spot ETFs, and massive growth in stablecoin usage and tokenization projects.
In addition to BTC and ETH, Solana (SOL) is also expected to soar to $750, representing a 250% increase from its current price of $215.
The Number of Bitcoin-Holding Countries Will Double
Bitwise predicts that by 2025, the number of countries officially holding Bitcoin as part of their national reserves will double from the current number.
This prediction is based on the trend of Bitcoin adoption by governments and the potential geopolitical race to secure digital assets as strategic reserves.
According to Bitwise data as of December 2024, there are currently nine countries officially holding Bitcoin, with the largest holdings among them being:
