$BTC

1. Short-term roadmap (0-6 months)

Expansion into Layer 2: "Satoshi upgrades" from Stacks will launch (Q3 2025) the trustless sBTC, enabling Bitcoin-backed decentralized finance (DeFi) without the need for custodians. This may attract idle Bitcoins into yield strategies, with sBTC liquidity pools and fee stripping.

Momentum of ETFs: The Financial Services Commission of South Korea plans to finalize its guidelines for Bitcoin spot ETFs by late 2025, similar to the American inflows ($5.13 billion) into ETFs since April 2025.

Mining innovation: The open-source Bitcoin mining segment from Block, Proto, aims for a release in 2025 to achieve decentralization in device production.

2. Long-term vision (6 months or more)

Sovereign adoption: More than 20 U.S. states are drafting bills to allow Bitcoin to hold treasury bonds, with federal plans being discussed to create a strategic Bitcoin reserve (Bitwise). Analysts expect institutional inflows to exceed $400 billion by 2026.

Global reserve ambitions: The investment manager at Bitwise expects the price of Bitcoin to reach $200,000 by 2025, driven by the "digital gold" theory and macroeconomic instability.