The possibility of Bitcoin reaching $1 million by 2025 is reliant on the establishment of a US government strategic Bitcoin reserve, according to Jeff Park of Bitwise Asset Management. Park estimates the probability of such an initiative happening in 2025 at less than 10%, which aligns with the likelihood of Bitcoin hitting $1 million within the same timeframe. Senator Cynthia Lummis has already introduced draft legislation to acquire 1 billion Bitcoins for a strategic reserve, sparking debate. While market sentiment is more optimistic, with Polymarket participants pricing the likelihood of a US Bitcoin reserve at 31% for 2025, Park maintains a conservative outlook. Despite this, institutional interest and regulatory developments could still support Bitcoin's price appreciation. Without the strategic reserve catalyst, major institutions predict more modest projections, with Bitwise's baseline forecast suggesting Bitcoin reaching $200,000 by the end of 2025.



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