I’m a bear on crypto. I am not a believer in the ‘bitcoin to a mil this year’ group of acolytes. Bitcoin could hit $1m, for several reasons, but not this cycle.

The price of Bitcoin soared 119% in 2024, and the bulls have been out in full force, making predictions about where the cryptocurrency is headed.

If you want exposure to Bitcoin without having to spend more than $100,000 for one coin, there are other ways to invest. You can buy fractions of a Bitcoin on crypto exchanges or brokerage platforms, invest in a Bitcoin ETF or look to crypto-related stocks and ETFs.

On Wednesday, the price of bitcoin jumped to more than $104,000, following Donald Trump’s announcement of a presidential pardon for Silk Road and bitcoin-libertarian folk hero Ross Ulbricht. The digital asset community also eagerly anticipated a flood of crypto executive orders that would overturn years of perceived regulatory slights.

Bitcoin’s most likely outcome is to range trade until either a Trump executive order or the upcoming Fed FOMC occurs.

Coinbase director Conor Grogan says Bitcoin wallets left behind by Ross Ulbricht when he was imprisoned for his underground online marketplace Silk Road are still holding tens of millions of dollars worth of BTC.

Market analysts see higher floors as enthusiasm for digital assets surges despite uncertain economic indicators.

That’s Larry Fink, chief executive at BlackRock Inc., the world’s largest asset manager, who says that bitcoin could reach $700,000 if more funds consider adding a 2% to 5% allocation into the crypto.

CBOJ, the first of three ETFs, provides investors with 100% downside protection while offering 10% to 11.5% upside potential over a one-year period, according to a press release. A representative of Calamos told CoinDesk that as of 12:11 p.m. ET, the ETF traded roughly 635,714 shares.

Bitcoin could be propelled to a valuation of $130,000 in 2025 according to one wealth advisor, buoyed by positive sentiments from CEOs like Brian Moynihan.

MicroStrategy Inc. bought $1.1 billion of Bitcoin, as the company gears up for a shareholder vote on a 30 times increase its authorized Class A shares.