Galaxy America has no chance of buying Bitcoin in 2025, he says.

Galaxy Research has released its 2025 cryptocurrency market forecast. The report highlights key trends including Bitcoin's new all-time high and expansion of the stable coin market.

Other industry insights also point to a volatile year ahead, with nation-state Bitcoin adoption and Tether's dominance in the stable coin sector expected to fall.

Bitcoin and Ethereum to reach new heights

Galaxy Research predicts that Bitcoin will reach a new all-time high in 2025. The company expects revenue to top $150,000 in the first half of the year, and to reach $185,000 in the fourth quarter.

This increase will be fueled by growing adoption among major corporations and nations. The report predicts that five Nasdaq 100 companies and five countries will add bitcoin to their balance sheets, motivated by strategic diversification and business settlement needs.

“Competition between countries, especially non-aligned countries, with large sovereign wealth funds, or even opponents of the United States, could make it possible to adopt my strategies or acquire bitcoins,” Galaxy Research said.

Bitcoin is expected to gain further pressure in the investment markets. US-based space Bitcoin ETFs can collectively manage more than $250 billion in assets, cementing BTC's role as a leading alternative asset. In the year By 2025, the market price may rival 20% of gold, which will strengthen the high-performance investment.

Ethereum, the second largest cryptocurrency, is also poised for significant growth. The report estimates that Ethereum could trade at $5,500 in 2025, with DeFi and staking as key growth drivers. The regulatory reforms will create favorable conditions, pushing Ethereum's peak participation above 50% and increasing the network activity.

The organization predicts that Dogecoin will reach $1 and a market cap of $100 billion thanks to continued community support and widespread use.

Stablecoin market to improve further

Galaxy Research predicts dynamic change in the stablecoin sector. The report expects the total stablecoin supply to exceed $400 billion by 2025, with at least ten new stablecoin projects entering the market through traditional financial partnerships. These developments expand the use of Statcoins for payments, remittances and settlements.

“Increased regulatory transparency for both stablecoin issuers and traditional banks, trusts and depositories will result in an explosion of stablecoin supply by 2025,” Galaxy said.

However, Tether's dominance is expected to drop below 50% as new entrants provide yielding options. Competitors could attract users by sharing revenue from standby products, forcing Tether to adjust its strategy. The firm suggests that Tether may introduce a delta-neutral stablecoin to remain competitive.

USDC can gain additional momentum supported by integrated reward programs in leading platforms such as Coinbase. This strategy could significantly increase user adoption and boost the DeFi ecosystem, reflecting the growing mix of crypto and traditional financial services.

Focus on policy and market structure

Under the regulation, the U.S. government is unlikely to buy bitcoin directly, but it could liquidate its holdings. Although significant measures will not be implemented immediately, there is an opportunity for discussion around the Bitcoin reserve policy.

“There will be some movement within the departments and agencies to explore an expanded Bitcoin reserve policy,” the firm said.

Galaxy Research predicts bipartisan legislation establishing stablecoin regulations in the US. This move could create a framework for greater regulation and encourage wider use of dollar-backed digital currencies.

The company continued that while stablecoins may increase transparency, delays in overall regulatory reform for the broader crypto market leave some uncertainty in place.