Polygon Labs CEO Predicts Bitcoin's Meteoric Rise to $250,000

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24.02.2025 66 times read 0 Comments

Polygon Labs CEO Predicts Bitcoin Could Reach $250,000

Marc Boiron, CEO of Polygon Labs, has made a bold prediction regarding Bitcoin's future, suggesting it could reach $250,000. Speaking on a Roundtable discussion hosted by Rob Nelson, Boiron emphasized Bitcoin's long-term growth potential, citing its fixed supply and increasing demand as key factors. He stated, "Over a long period of time, Bitcoin is going to go up because demand for Bitcoin is going to go up and that supply is not going to change." Despite Bitcoin's notorious volatility, Boiron believes current market conditions and regulatory trends reduce downside risks. This analysis was reported by Yahoo Finance, which also highlighted recent market fluctuations, including Bitcoin's drop to nearly $97,000 following a $1.5 billion outflow from Bybit.

Source: Yahoo Finance (https://finance.yahoo.com/news/polygon-labs-ceo-predicts-bitcoin-143000347.html)

Hong Kong Investment Firm Expands Bitcoin Holdings

HK Asia Holdings Limited, a Hong Kong-based investment firm, has significantly increased its Bitcoin holdings. On February 20, the company purchased approximately 7.88 BTC for $761,705, bringing its total holdings to 8.88 BTC at an average cost of $97,021 per coin. This move follows the firm's initial Bitcoin purchase on February 16, which led to a 93% surge in its stock price. As of February 24, HK Asia's shares were trading at 6.66 Hong Kong dollars, marking a 1,700% increase this year. The firm cited the growing popularity of cryptocurrencies as a key reason for its investments. This development was covered by TradingView and Cointelegraph.

Sources: TradingView (https://www.tradingview.com/news/cointelegraph:2245fed07094b:0-hong-kong-investment-firm-s-board-gives-nod-to-more-bitcoin-buying/), Cointelegraph (https://cointelegraph.com/news/hk-asia-adds-bitcoin-after-board-approval)

Should Investors Consider Cardano Over Bitcoin?

The Motley Fool explored whether Cardano could be a better investment than Bitcoin. While Bitcoin has surged nearly 290% over the past two years, Cardano offers advantages such as faster transaction speeds (up to 1,000 TPS) and predictable fees. However, Cardano faces stiff competition from Solana, which boasts speeds of 5,000 TPS and lower transaction costs. Additionally, Ethereum's planned upgrades could overshadow Cardano's appeal. Despite potential catalysts like a spot-price ETF, Cardano's long-term viability remains uncertain compared to Bitcoin's established position as a scarce and valuable asset. The Motley Fool concluded that Bitcoin has a clearer path for long-term gains.

Source: The Motley Fool (https://www.fool.com/investing/2025/02/23/should-you-forget-bitcoin-and-buy-cardano-instead/)

Bitcoin Coinbase Premium Index Drops Below Zero

Bitcoinist reported that the Bitcoin Coinbase Premium Index has fallen below zero, indicating reduced buying activity from U.S. investors compared to global traders. This metric, which tracks the price difference between Bitcoin on Coinbase and Binance, suggests a lack of institutional demand in the U.S. Additionally, Bitcoin whales have offloaded 30,000 BTC, worth approximately $2.9 billion, over the past 10 days. These factors contribute to Bitcoin's sluggish price action, with the cryptocurrency currently trading at around $96,500. Analysts warn that this trend could lead to prolonged consolidation or potential downside risks.

Source: Bitcoinist (https://bitcoinist.com/bitcoin-coinbase-premium-index-sinks-below-zero/)

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