The expert did not rule out the growth of bitcoin rate above $100 thousand by the end of 2024.

By the end of the year, bitcoin (BTC) may reach $100 thousand and even go higher to the level of $120 thousand, according to Capital Lab partner Evgeny Shatov. He told Izvestia on November 21.

Earlier in the day, the cost of bitcoin once again set a historical record, exceeding $98 thousand.

"The main driver [of growth] is still investor optimism caused by the expectation that[US] President-elect Donald Trump will support cryptocurrencies, ensuring the US transition from repression to friendly regulation (increased regulatory transparency is expected). Also important is the continued growing interest from institutional investors, who are beginning to appreciate the unique properties of bitcoin compared to traditional assets," Shatov explained.

The expert also noted that Trump's team has started to hold discussions on the creation of a position in the White House, which will deal with policy in terms of digital assets. The industry is in favor of this initiative, as it will allow to have a direct link with the president-elect, who is one of the biggest supporters of cryptocurrencies," he emphasized.

"Trump during his election campaign repeatedly stated his intention to make the US the 'cryptocurrency capital of the world.' Trump is expected to be a new impetus for the crypto industry, pushing back the future cryptozyme, which could come both due to cyclicality and reduced liquidity with the onset of recession in the U.S. and the world," Shatov said.

He said that if the U.S. establishes clear rules to regulate the industry, cryptocurrencies will inevitably take root over time as a new asset class in most investors' portfolios.

"By the end of the year, bitcoin could break through the $100,000 mark and go to the $120,000 level with continued optimism. If Trump and his team do not backtrack on some of their statements regarding the crypto industry, bitcoin's growth could continue in 2025. For example, Bernstein analysts believe that bitcoin will break $200 thousand by the end of 2025. In turn, Katy Wood expects bitcoin to reach $650 thousand in the baseline scenario by 2030, in the bullish scenario - $1,000,000 - 1,500,000," - said Shatov.

At the same time, he added that we should not forget the market crash in 2022, which exposed fraud and other risky practices and led to the collapse of platforms, including the Sam Bankman-Fried cryptocurrency exchange. The turmoil then prompted a flurry of enforcement tightening measures from the U.S. Securities and Exchange Commission, he recalled.

"By easing regulation, it is very important not to let the situation repeat itself," Shatov concluded.

In September, the director of the Industrial Mining Association Sergey Bezdelov at the session "Industrial Mining" of the Eastern Economic Forum said that in 2023, 54 thousand bitcoins were mined in Russia. They can bring the treasury taxes in the amount of 50 billion rubles on the horizon of several years.