CK Zheng, chief investment officer at ZK Square, said Bitcoin may have entered "Santa Claus mode" as many investors fear missing out and want to put more money into the asset class. He predicted that Bitcoin will reach $125,000 in early 2025, but warned that since most of the positive news from the incoming Trump administration has been priced in by the market, there may be a 30% correction afterwards, taking Bitcoin back to around $87,500.
Meanwhile, Jack Mallers, founder and CEO of Strike, said that Trump may issue an executive order on his first day in office on January 20 to designate Bitcoin as a reserve asset. He added: "It will not reach the scale of 1 million BTC at the beginning, but it will be a large position." (Cointelegraph)