Galaxy Head of Research: US ETPs Perform Steadily, It's Only a Matter of Time Before Bitcoin Follows Gold as a Hedge Against Currency Depreciation

PANews reported on December 27 that Alex Thorn, Head of Research at Galaxy, stated on the X platform that for bitcoin to achieve a positive return in 2025, its closing price on the last day of the year must be above $93,389. However, the sentiment among bitcoin investors is undoubtedly rather subdued at the moment. Still, some portfolio managers may revisit bitcoin in January 2026. This year, bitcoin has seen many positive developments, and such “good news” seems to have become the norm.

Despite a lackluster year-end performance, the performance of US bitcoin ETPs has been much more stable. Since the historical high of $62 billion set in October, cumulative inflows have only declined by 9%, further highlighting the increasing maturity of this asset class. Galaxy believes that it may only be a matter of time before bitcoin follows gold as a hedge against currency devaluation, and several large asset allocators and central banks could ignite this trend.