According to the report by Galaxy Research, Bitcoin (BTC) is expected to reach a record high of about $185,000 in the fourth quarter of 2025, thanks to increasing adoption among institutional investors, corporations, and countries. Fundamental Forecast for Bitcoin and Ethereum Bitcoin (BTC): Expected to “test or reach the peak” of $185,000 by the end of 2025. Ethereum (ETH): Predicted to surpass the $5,500 mark in the next 12 months. Alex Thorn, research director at Galaxy, said: “The combination of application by organizations, businesses, and countries will take Bitcoin to a new level by 2025”. National and corporate adoption: Galaxy predicts that five Nasdaq-100 companies and five countries will add bitcoin to their balance sheets or national investment funds. US Bitcoin ETF: Assets under management (AUM) in the US spot bitcoin exchange-traded funds are expected to exceed $250 billion by 2025. Asset management platform: It is expected that there will be at least one major platform announcing a bitcoin allocation of 2% or higher in the coming year. The decentralized finance (DeFi) sector will witness significant growth, with the total BTC locked in DeFi protocols expected to double from the current $11 billion. Meanwhile, the mining industry seems to be shifting towards high-performance computing (HPC). Galaxy predicts that more than half of the top 20 bitcoin mining companies will publicly trade will collaborate with artificial intelligence (AI) companies or super-scale companies by 2025. The report also predicts that Bitcoin will reach 20% of the market value of gold next year, reinforcing its position as a digital store of value and a competitor to traditional assets.