Bitcoin could hit $200,000 this year as market set for significant growth

02/07/2025 04:01 AST

The crypto market is poised for significant growth in 2025, and Bitcoin, the largest cryptocurrency, could hit $200,000 this year, a senior official said.

"The successful clearance of the GENIUS Act by the US Senate will pave the way for strong policy guidelines in the world's strongest economy. The Genius Act will not only make digital assets mainstream in the US, but it will also create a regulatory template for other countries as well. The crypto market will witness significant growth in the second half of 2025. Bitcoin touching $200,000 by the end of 2025 won't be surprising," Gracy Chen, CEO at Bitget, a leading cryptocurrency exchange, told Khaleej Times.

Bitget is actively pursuing licences in more than 15 jurisdictions worldwide, including with the Virtual Assets Regulatory Authority (Vara) in Dubai in UAE and FIU registration in India. "As the global regulation of digital assets is advancing at a rapid rate, we actively seek out the most optimal jurisdictions with regulatory clarity for licenses and registrations to future-proof our global operations and to ensure regulatory compliance. This pursuit has helped us gain licenses and approvals in various jurisdictions in recent years, including in El Salvador, Poland, Italy, Bulgaria, Georgia, Argentina, and Australia," Chen said.

"Opening doors in Dubai reflects more than just office expansion, it's aimed at embedding Bitget into the region, and to do that we need people that understand the market inside and out. The localised team will play a key role in adapting products and services for regional users, engaging with regulators, and strengthening institutional and retail adoption in one of crypto's fastest-growing markets," she added.

The Middle-East is emerging as a global hub for web3 innovation. The business friendly policies and supportive administration is enabling fast-paced innovation in the Web3 space.

Bitget and many other global web3 firms have chosen Dubai as their global gateway. "A strong base in Dubai means having a global capability center to expand the business in the other parts of the world. UAE is at the forefront of technological innovation with rapid adoption of emerging technologies. Crypto friendly regulatory bodies regulatory bodies like Vara and ADGM are closely working with relevant stakeholders of the industry to create a growth oriented policy framework," Chen said. "Global family offices based out of Dubai and actively looking at digital assets as an investment class and we have witnessed a strong demand from institutional and retail investors," she added.

Bitget is preparing to scale operations in the Middle East following its expected Vara license approval. Its Dubai regional headquarters is already staffed with 60 employees, with plans to double headcount. Key priorities include institutional onboarding, Arabic language and Mena fiat support, zero-fee P2P trading, and localized altcoin products. "The UAE is a hotbed for crypto projects and top CEXs like ours would like to pursue markets that support the cryptospace's growth. We continue to hire new team members in Dubai to expand our business and provide employment to the local community," Chen said.

Bitget has recently announced a partnership with Unicef to advance digital skills and blockchain literacy among young people globally.

Through this partnership, Bitget joins Unicef's Game Changers Coalition (GCC), led by the Office of Innovation. "Our support will help reach 300,000 individuals across eight countries: Armenia, Brazil, Cambodia, India, Kazakhstan, Malaysia, Morocco, and South Africa. This is incredibly meaningful to me and closely aligned with our Blockchain4Her initiative, which I co-founded at Bitget to empower women in blockchain and drive greater inclusivity in the space," Chen said.

According to research, every year, adolescent girls and young women in low- and middle-income countries miss out on an estimated $15 billion in economic opportunities due to disparities in internet access and digital skills compared to their male peers. "By introducing blockchain education early, we hope to provide young girls with a launchpad to explore new opportunities, strengthen their digital confidence, and unlock their full potential in the tech-driven future," Chen said.

Khaleej Times