Bitcoin prices have surged by over 63% in the past six months to hover above £77,000 on 12th February, primarily driven by Donald Trump’s pro-crypto stance.
Amid diverse speculations that the token price could reach new highs this year, Jan3 CEO Samson Mow recently reiterated his forecast that BTC prices would “violently” soar to £803,199 in 2025 due to national adoption, sovereign debt issuance, and accelerating hyberbitcoinisation.
Mow explained that the increase in Bitcoin prices would be a fast escalation over weeks or months rather than a gradual and steady growth.
“If you look at the failure of fiat currencies, they don’t gradually fail. They fail spectacularly. And this is the premise behind the 1 million Bitcoin call that is not going to be a gradual, slow increase to $1 million a coin, but rather a very short and violent upheaval that sends us there in a matter of months, weeks to months,” he said in a podcast last week.
Mow referred to the growing involvement of nations in Bitcoin mining as a major indicator of this impending “hyperbitcoinisation,” essentially a scenario in which Bitcoin replaces traditional fiat currencies to become the dominant global currency for the exchange and store of value.
He pointed to Bhutan’s Bitcoin holdings through mining in the past few years. “If this is not an indication that hyperbitcoinisation is coming, I’m not really sure what is,” Mow added.
The CEO also expects countries to soon issue sovereign debt to acquire Bitcoin, similar to companies like MicroStrategy, which leverages debt to buy the crypto. “It’s just simply a matter of time before a country pulls that trigger and unleashes a torrent of sovereign debt to acquire Bitcoin,” Mow predicted.
19 US States Mulling A Crypto Reserve
According to the Bitcoin Reserve Monitor, 19 US States, including North Carolina, Utah, Arizona, Montana, Maryland, Ohio, Florida, and Kentucky, are planning to establish cryptocurrency reserve funds, with most targeting Bitcoin in alignment with President Donald Trump’s vision for a national Bitcoin stockpile.
Earlier this week, state representatives Stephen Ross, Mark Brody, Mike Schietzelt, and Destin Hall floored the NC Digital Assets Investments Act in the North Carolina House of Representatives to let the state treasurer invest in qualified digital assets to create a reserve fund. If the bill is passed, North Carolina could buy over 40,000 BTC tokens and even use rainy-day funds if necessary to make the purchase.
As part of the Trump Administration’s agenda to make America the “crypto capital of the world,” the President signed an executive order on 23rd January to form a working group to devise a regulatory framework for cryptocurrencies. The move and the appointment of pro-crypto officials across agencies, including the US Securities and Exchange Commission (SEC), have fueled optimism around his plans to create a national digital asset reserve.
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