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In 2024, Bitcoin and the entire cryptocurrency ecosystem experienced a historic disruption. The first exchange-traded fund (ETF) based on Bitcoin and Ethereum was launched, demonstrating real recognition from large institutional investors. The price of Bitcoin surpassed $100,000for the first time , and stablecoins continued to strengthen the global dominance of the US dollar. On top of that, the winner of the US presidential election made support for Bitcoin a centerpiece of his campaign program.
Key takeaways:
- Bitcoin can be included in the government reserves of G7 or BRICS countries
- The capitalization of stablecoins is projected at $400 billion
- Bitcoin-based DeFi will become a new trend thanks to L2 solutions
- The cryptocurrency ETF market is expected to expand
- Bitcoin is expected to be added to the reserves of tech giants
- The total capitalization of the crypto market may reach $8 trillion
- The United States can regain leadership in the crypto industry
These achievements have cemented the status of 2024 as a turning point, when cryptocurrencies confirmed their strength on the global stage. Now that the industry is shifting its focus to 2025, here are 7 major events that Forbes believes could happen next year.
1. One of the major G7 or BRICS countries will announce a Bitcoin Strategic Reserve
The Trump administration’s proposal to create a Strategic Bitcoin Reserve (SBR) for the United States has sparked a loud debate. Although adding Bitcoin to the balance sheet of the government’s treasury is a difficult political task, the fact that such an initiative is being discussed is significant.
Due to the limited supply of Bitcoin and its growing role as a digital store of value, there is a strong incentive for governments to act immediately. If a leading economy announces the inclusion of Bitcoin in its reserves alongside gold, foreign currencies, and government bonds, it will mark the beginning of a new era in sovereign asset formation.
2. Stablecoins will continue to grow and exceed $400 billion
Stablecoins are one of the most common applications of cryptocurrencies. They are used worldwide to make money transfers, daily payments, and hedge against the volatility of national currencies, taking advantage of the relative stability of the US dollar.
In 2024, the total supply of stablecoins reached a maximum of $200 billion. The market is dominated by Tether and Circle, which operate on the Ethereum, Solana, Tron, and other blockchains. Next year, further growth is expected, which could double the volume of stablecoins to over $400 billion, especially if regulators pass separate laws for this asset category. The United States already recognizes the strategic importance of stablecoins, as they strengthen the dollar’s position as the world’s reserve currency.
The stablecoin market is showing strong dynamics:
- Current capitalization: $200 billion
- Forecast for 2025: $400+ billion
- Market leaders: Tether, Circle
- Major blockchains: Ethereum, Solana, Tron
3. Bitcoin-based DeFi will become a new wave of growth thanks to L2 solutions
Bitcoin is evolving and going beyond the role of digital gold. Thanks to L2 solutions (Layer 2) such as Stacks, BOB, Babylon, CoreDAO, and others, conditions for scaling and programming appear, which allows creating decentralized financial applications (DeFi) directly on the Bitcoin network.
The development of Layer 2 technologies opens up new opportunities:
- Key platforms: Stacks, BOB, Babylon, CoreDAO.
- Important updates: Nakamoto Upgrade, sBTC
- TVL forecast: exceeding $24 billion
- Benefits: increased security and efficiency
In 2024, the Stacks protocol released the Nakamoto Upgrade and sBTC updates. The Nakamoto Upgrade allowed Stacks to inherit Bitcoin’s finality and accelerated block formation, while sBTC was launched in December, giving users the ability to interact with DeFi tools (lending, staking, etc.) directly using the secure Bitcoin base.
Previously, Bitcoin holders had to turn to third-party networks (e.g., Ethereum) to issue wrapped Bitcoin (WBTC, BTCB, cbBTC), which involved centralized custodians and censorship risks. Now, L2 solutions provide more decentralized mechanisms and can help DeFi on Bitcoin grow rapidly in 2025.
It is predicted that the total value of assets blocked (TVL) in Bitcoin L2 will exceed $24 billion “wrapped” Bitcoin on other blockchains, as users will be able to use the Bitcoin ecosystem more securely and efficiently.
4. Bitcoin ETFs will evolve, new ETFs for other crypto assets will appear
The launch of spot Bitcoin ETFs was a real breakthrough, setting a record with more than $108 billion in assets under management (AUM) in the first year. The giants BlackRock, Fidelity, and Ark Invest facilitated the transition of Bitcoin to the traditional financial market, paving the way for further ETFs in the cryptocurrency market.
Achievements of Bitcoin ETFs in 2024:
- AUM: $108+ billion
- Key players: BlackRock, Fidelity, Ark Invest
- Prospects for 2025: ETFs on Ethereum with staking
- Expectations: launch of index cryptocurrency ETFs
Over time, Ethereum ETFs have appeared, and in 2025, the first Ethereum ETFs with staking may be launched, allowing investors to receive staking rewards within the ETF itself. We should also expect ETFs on other protocols (e.g., Solana) and the launch of index ETFs that will include several cryptocurrencies and provide a balanced portfolio.
5. One of the Magnificent Seven companies will add Bitcoin to its balance sheet (except Tesla)
The U.S. Financial Accounting Standards Board (FASB) has introduced new rules for measuring cryptocurrencies at fair value, which will take effect after December 15, 2024. Previously, cryptocurrencies were considered intangible assets, so companies had to write off losses from price declines but could not show unrealized gains. Now, financial statements will reflect the value of Bitcoin more accurately.
The Magnificent Seven group (Apple, Microsoft, Google, Amazon, Nvidia, Tesla, Meta) collectively holds more than $600 billion in cash reserves. Updated accounting approaches make cryptocurrencies more attractive to corporate treasuries. Thus, there is a high probability that someone other than Tesla will decide to invest some of its funds in Bitcoin as a hedge against inflation and a means of diversification.
6. The total market capitalization of cryptocurrencies will exceed $8 trillion
In 2024, the cryptocurrency market grew to $3.8 trillion, including such areas as Bitcoin, stablecoins, DeFi, NFT, memecoins, GameFi, SocialFi, etc. In 2025, developers will continue to move into the crypto industry, creating new products with high scaling potential and massive user engagement.
Disruptive applications (dApps) are expected to emerge in the areas of artificial intelligence, DeFi, decentralized physical networks (DePINs), and other industries. This will fuel investor interest and contribute to further capitalization growth. It is likely that the market will exceed $8 trillion, which will be another proof of the prospects of digital assets.
7. “Renaissance” of crypto startups in the United States: restoration of the country’s leadership
The US is coming to the end of the period of aggressive measures taken by the regulator (SEC) against the crypto market. SEC Chairman Gary Gensler, who used the “regulation through punishment” approach, is resigning in January. He will be replaced by Paul Atkins, a former SEC commissioner (2002-2008) known for his commitment to deregulation and support of the crypto industry.
The completion of the Operation Chokepoint 2.0 initiative, which restricted cryptocurrency startups’ access to banks, will also contribute to the revival. Restoring access to traditional financial infrastructure and mitigating regulatory risks may bring innovators and developers back to the United States, which will once again become one of the industry’s leading centers.
Thus, 2025 could be the year of the rapid revival of the American crypto industry.
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