Bitwise Asset Management European head Bradley Duke talked with Proactive about Bitcoin's record-breaking performance in 2024. Duke highlighted the cryptocurrency's 121% annual return, significantly outperforming traditional assets like the S&P 500 and gold. He also discussed Ethereum's strong year and the broader cryptocurrency market's 81% MSCI index rise.
Addressing Bitcoin's future, Duke explored both headwinds and tailwinds. A strong U.S. dollar, he explained, is currently a major challenge, contracting the global money supply and suppressing Bitcoin’s growth. However, Duke pointed to supply-side tailwinds like the 2024 halving and corporations adopting Bitcoin as a treasury asset, predicting these factors could help Bitcoin hit $200,000 by the end of 2025.
The conversation also touched on Bitwise's recent launch of a Solana staking ETP. Duke described how the product leverages smart tech for superior performance, reinvesting staking rewards to enhance returns.