Saudi Press

Saudi Arabia and the world
Saturday, Aug 02, 2025

Cryptocurrency Exchange Co-Founder Says Bitcoin Could Surge to $300,000

Cryptocurrency Exchange Co-Founder Says Bitcoin Could Surge to $300,000

Bitcoin has hit its record price above $60,000 at the beginning of the month – now the cryptocurrency trades at around $57,000.

Bitcoin's value could surge as high as $300,000 with possible gains up to $100,000 this summer, the co-founder and former CEO of China-based crypto exchange BTCC, and founder and CEO of crypto wallet startup Ballet Bobby Lee said on Monday. He warned, though, that after the cryptocurrency peaks, there could be a fall.

"I don't know if history will repeat itself, but what we do know is that bitcoin bull market cycles come every four years and this is a big one,” Lee told CNBC. “I think it could really go up to over $100,000 this summer.”

According to him, two of these “mega bull market cycles” have occurred over the last eight years with the last one coming in 2017, when Bitcoin cost about $1,000 – the price of the cryptocurrency surged to nearly $20,000 by the end of the year.

The cryptocurrency businessman, however, warned that “bull market cycles come and go,” adding that “after a bull market peak, inevitably it could go down by quite a bit, and that's when the bubble bursts.”

"So after it peaks outs, whether it's $200,000, $100,000 or $300,000, people should be aware that it could fall as much as 80 percent to 90 percent of its value from the all-time peak," Lee predicted, adding that the cryptocurrency could even enter a "winter" with the price staying low for years.

Bitcoin has seen massive growth since last year, gaining some 700 percent in value from January 2020, when it cost $7,000.

Major electric car manufacturer Tesla announcing that it had invested $1.5 billion in the cryptocurrency in January, which propelled the currency's value further.

Launched in early 2009, Bitcoin is the world's biggest cryptocurrency by market capitalisation and the amount of data stored on its blockchain. It was invented by mysterious figure Satoshi Nakamoto, whose identity is still uncertain.

Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Russia Formally Recognizes Taliban Government in Afghanistan
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Emirates Airline Expands Market Share with New $20 Million Campaign
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
Iran's Parliament Votes to Suspend Cooperation with Nuclear Watchdog
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
Explosions Rock Doha as Iranian Missiles Target Qatar
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Oman Set to Introduce Personal Income Tax, First in Gulf
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
×