"Based on our analysis of historical price cycles and recent price action, along with the widely-held expectation for a more favorable regulatory environment for the digital assets industry in the U.S. in 2025 under the new administration, the availability of spot ETF [exchange-traded fund] products in the U.S., and accelerating institutional investor and corporate adoption, we now estimate that bitcoin will reach $225,000 per coin by the end of 2025," HC Wainwright analyst Mike Colonnese wrote in a note seen by CNBC. However, Colonnese said the bitcoin price could "significantly exceed" its price prediction if the U.S. implements bitcoin as a treasury reserve asset this year—something he has assigned a 60% likelihood of happening."