Recently, the New York Stock Exchange listed KULR Technology Group which stockpiled millions worth of Bitcoin during the correction has predicted that Bitcoin may reach a $200,000 peak during the 2025 market cycle.
Just recently, KULR Technology Group bought over $21 million worth of Bitcoin at the average price of $97,391 on Jan. 6. Notably, the $21 million purchase occurred hours before Bitcoin reclaimed the $100,000 mark for the first time since Dec. 19.
Michael Mo, CEO of KULR Technology, believes that Bitcoin could double its price from its current value due to increasing global adoption. This may set up Bitcoin for a cycle top of above $200,000 in 2025, Mo told Cointelegraph.
“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 noted.
In December, KULR acquired 217.18 BTC for approximately $21 million, which marked the launch of its Bitcoin treasury. KULR said the acquisition is the first of several planned purchases as part of a broader strategy to allocate up to 90% of its surplus cash into Bitcoin.
