How much is 2% of all central bank reserves? Since they are the ones who move prices the easiest assumption to make would be to choose a number for free float available to central banks for purchase and set that equal to 2% of global reserves and extrapolate a target price.

A quick search car up with $44 trillions. That’s $882 billions that needs to be represented in Bitcoin holdings for central banks to meet that target in 2025. Let’s assume 20% of all Bitcoin are available for sale.

That means for CB to hold 2% on their balance sheet in BTC after buying all available float the market cap has to reach $4.4 trillion.

That’s 5x from here assuming no other buyers as a baseline estimate for 2025.