Bitcoin poised for Record Year as Regulation Clears, says Binance CEO
Bitcoin is expected to reach new heights in 2025, according to Richard Teng, CEO of Binance. Teng, who took over from Changpeng Zhao, expressed his optimism during the World Economic Forum in Davos, Switzerland, citing the anticipated regulatory clarity under a potential Donald Trump presidency.
“if we look at past cycles, this year will be a year in which we will see a new all-time high for the cryptocurrency industry,” Teng stated in an interview with CNBC.
He believes the return of Trump to the White House will usher in a new era of clarity for the crypto market, leading to significant growth.Teng highlighted the shift in sentiment surrounding cryptocurrencies, attributing it to the increasing institutional demand for Bitcoin and other altcoins. He also pointed to the growing pro-crypto stance of the US Congress, contrasting it with the past.”The House of Representatives and the Senate are now pro-cryptocurrencies compared to the past,” Teng emphasized.
The price of Bitcoin has indeed been volatile in recent days, surging by 3.2% in the last 24 hours to trade just above $107,000.Earlier, it had plummeted below $103,000. Despite the fluctuations, Bitcoin has seen a nearly 15% gain year-to-date, according to CoinMarketCap.
Bitcoin to Hit New Highs in 2025? Binance CEO Richard Teng Weighs In
Time.news Editor: Richard, thanks for joining us today. Binance is one of the world’s leading cryptocurrency exchanges, adn your viewpoint on the market is highly valued. Your recent comments at the world Economic forum in Davos have generated a lot of buzz. Can you elaborate on your prediction for Bitcoin in 2025?
Richard Teng, CEO, Binance: Of course.Looking at historical cycles, I believe 2025 will mark a year where we witness a new all-time high for the entire cryptocurrency industry. [[1]]
Time.news Editor: That’s a bold statement. What factors are driving this optimism?
Richard Teng: Several key factors contribute to this positive outlook. firstly, I expect significant regulatory clarity in the US under a potential Donald trump presidency. This will not only reduce uncertainty but also attract more institutional investors to the crypto market, further fueling growth. [[2]] Secondly, there’s been a noticeable shift in sentiment towards crypto.
We’re seeing increasing institutional demand for Bitcoin and other choice cryptocurrencies (altcoins). [[3]]
And lastly, Congress is now more pro-crypto compared to the past, with both the House of Representatives and the Senate taking a more favorable stance.
The combination of these factors points towards a very strong year for cryptocurrencies.
Time.news Editor: Bitcoin recently experienced some price volatility, surging and then dropping significantly within a short period. How does this play into your prediction for longer-term growth?
Richard Teng: Yes, you’re right. Bitcoin, like any asset, experiences fluctuations. Short-term volatility is part of the nature of the market. However, focusing solely on these short-term swings can be misleading.
Despite the recent volatility, Bitcoin has seen almost a 15% increase year-to-date, and this underlying trend suggests continued growth.
What’s important is the long-term trajectory and the underlying factors driving Bitcoin’s value. The factors I mentioned previously remain strong, and I believe these will ultimately push Bitcoin to new heights.
Time.news Editor: What advice would you give to individual investors who are considering investing in Bitcoin or other cryptocurrencies based on your outlook?
Richard Teng:
I would encourage anyone considering investing in crypto to do their research thoroughly and understand the risks involved. Crypto is a volatile asset class, and it’s crucial to invest only what you can afford to lose.
However, if you believe in the long-term potential of crypto, I think now might be a good time to start investing. The market is maturing, regulatory clarity is on the horizon, and institutional adoption is increasing, which all point toward a radiant future for cryptocurrencies.