Bitcoin Eyes RM1,269,300 Amid ETF Boom and Shrinking Supply

Bitcoin is currently trading between $118,000 (RM499,258) and $120,000 (RM507,720), with analysts forecasting a surge to $300,000 (RM1,269,300) by the end of next year. Driving this optimism is a perfect storm of institutional demand, ETF inflows, supportive regulation, and tightening supply. 

Bitcoin Eyes RM1,269,300 Amid ETF Boom and Shrinking Supply

The approval of spot Bitcoin ETFs, notably those managed by giants like BlackRock, has funneled billions into the market. With the U.S. establishing its own Strategic Bitcoin Reserve, regulatory confidence has encouraged banks and investors to pile in.

Supply dynamics are equally compelling. With over 19.7 million coins mined and only 450 new BTC entering circulation daily after the 2024 halving, scarcity is intensifying. Analysts estimate demand is now five times greater than supply. Technically, Bitcoin has broken key resistance levels, with projections aiming at $143K (RM605,033) next—potentially setting the stage for $300K (RM1,269,300).

Forecasts vary: Standard Chartered sees $200K (RM846,200), ARK Invest imagines a $1.5M (RM6,346,500) best-case scenario, and Fundstrat’s Tom Lee pegs $500K (RM2,115,500) in five years. Risks remain—from policy shifts to speculation—but growing long-term institutional interest suggests price pressure may continue. With macro conditions like low interest rates and a weakening dollar in play, Bitcoin’s upward trajectory looks increasingly grounded in fundamentals.