The Daily: Bernstein sets out 10 crypto predictions for 2025, MicroStrategy buys another $101 million worth of bitcoin and more

I hope you had a good weekend, folks. In today's Daily, analysts at Bernstein set out 10 crypto predictions for the year ahead, MicroStrategy buys another $101 million worth of bitcoin, most of Ripple's open roles are now U.S.-based due to the "Trump effect" and more.

Meanwhile, bitcoin is back above $100,000 amid rising futures funding rates. Plus, stablecoin regulation advocate Michael Barr steps down as Fed vice chair for supervision ahead of Trump taking office.

Let's get started.

Bernstein analysts set out 10 crypto predictions for 2025

Analysts at research and brokerage firm Bernstein set out 10 predictions for the year ahead as crypto enters what they describe as its "Infinity Age."

• The Infinity Age is "a long period marked by relentless evolution and widespread acceptance, leading to a point where crypto is no longer controversial — just part of the financial system built for the new intelligent age," analysts led by Gautam Chhugani wrote in a note to clients on Monday.
• Kicking off their expectations, the analysts reiterated their $200,000 bitcoin price target by the end of 2025 amid a rising narrative around sovereign adoption following President-elect Donald Trump's strategic bitcoin stockpile campaign pledge.
• While the analysts are uncertain whether actual nation-state buying begins this year, they do expect continued growth in corporate treasury adoption, anticipating inflows of more than $50 billion in 2025 compared to $24 billion last year.
• The analysts also predict the U.S. spot Bitcoin ETFs will attract net inflows exceeding $70 billion — double the approximate $35 billion generated in 2024 — led by accelerated institutional adoption.
• Rounding out the Bitcoin side of things, the analysts suggested miners will "have to" continue shifting capacity to AI for value creation this year.
• They also expect AI and crypto convergence will foster innovation through decentralized AI-focused blockchains, AI-integrated wallets and tokenized AI agents.
• Bernstein anticipates "unprecedented" regulatory tailwinds for the industry this year with the incoming pro-crypto administration, including potential legislation on stablecoins.
• Such legislation could drive substantial growth in the global stablecoin market, with the analysts predicting it will cross $500 billion in 2025.
• They also anticipate banks and asset managers will begin launching new crypto offerings.
• Additionally, the analysts expect a more pro-crypto SEC to withdraw or settle existing cases with crypto companies, more crypto firm IPOs and equity market tokenization this year.
• Finally, Ethereum is poised to become the next "institutional darling" in 2025, despite underperformance last year, Chhugani said, driven by traditional investors seeking intrinsic value.

MicroStrategy buys another $101 million worth of bitcoin

MicroStrategy purchased another 1,070 BTC for $101 million at an average price of $94,004 per bitcoin between Dec. 30 and Dec. 31, according to an 8-K filing with the SEC.

• The latest acquisitions follow MicroStrategy's sale of 319,586 shares for the same amount, with its stock price rising over 7% following the announcement on Monday.
• The company now holds 447,470 BTC, worth over $44 billion, bought at an average price of $62,503 per bitcoin for a total cost of around $27.97 billion, according to co-founder Michael Saylor — who was celebrating bitcoin's recent $100,000 milestone at a party in his Miami home on New Year's Eve.
• Meanwhile, Japanese investment firm Metaplanet said it wants to expand its bitcoin holdings to 10,000 BTC this year — an increase of more than fivefold from its current treasury position.

Ripple CEO says most open roles are now U.S.-based due to the 'Trump effect'

Ripple CEO Brad Garlinghouse revealed that 75% of the firm's open job positions are now U.S.-based due to optimism for Donald Trump's incoming pro-crypto administration.

• "Say what you want, but the 'Trump effect' is already making crypto great again — through his campaign, and in the Administration's day one priorities," Garlinghouse said.
• According to the CEO, Ripple had made the vast majority of its hires outside of the U.S. during the past four years after the company became engaged in a legal battle with the SEC under departing Chair Gary Gensler's leadership.
• Ripple also signed more U.S. deals in the last six weeks of 2024 than in the previous six months, he claimed.

Crypto trading firm GSR receives approval from the UK's Financial Conduct Authority

Crypto trading and liquidity provider GSR has received approval from the UK's Financial Conduct Authority to operate as a registered crypto asset business and conduct, among other services, trading for UK clients.

• In April 2024, GSR's Singaporean entity gained approval from the Monetary Authority of Singapore to provide OTC and market-making services.
• "By achieving approvals from two of the world's leading financial regulators, the GSR Group can confidently expand our services to institutional and professional clients globally," GSR Group CEO Xin Song said.
• GSR underwent a significant executive reorganization in mid-2024, including the departure of co-founder and co-CEO Rich Rosenblum and CTO John MacDonald.

Vitalik Buterin liquidates millions of dollars worth of memecoins to fund his charity

Vitalik Buterin is liquidating memecoins , including popular cryptocurrencies like CULT, DOGE and SHIB, worth approximately $2.5 million to fund his Kanro charity, which addresses pandemic-related issues.

• Memecoin creators frequently send tokens to Buterin's wallet for publicity, but he periodically offloads them, often affecting token prices.
• Buterin's primary holdings include over 240,095 ETH valued at $873 million, alongside smaller amounts of other assets.

In the next 24 hours

• Eurozone CPI inflation data are due at 5 a.m. ET on Tuesday.
• U.S. FOMC member Thomas Barkin will speak at 8 a.m.
• METAVSUMMIT gets underway in Dubai.

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