Steven McClurg, CEO of Canary Capital, predicts Bitcoin has a greater than 50% chance of reaching $140,000–$150,000 by year-end 2025, representing a 19–27% gain from its current $117,867 price. This surge is attributed to sustained inflows into spot Bitcoin ETFs and institutional demand from sovereign wealth funds, pensions, and corporate treasuries.
However, McClurg warns of a looming bear market in 2026, citing macroeconomic uncertainties. He criticizes the Federal Reserve for delaying rate cuts, though markets price a 92.5% probability of cuts in September. Contrastingly, MicroStrategy's Michael Saylor dismisses bearish prospects, forecasting Bitcoin's ascent to $1 million, while Bitwise CIO Matt Hougan anticipates continued bull-market momentum into 2026.
McClurg expressed skepticism toward Ethereum, calling it "older technology" and favoring Solana (SOL) and Sui (SUI) for their speed, cost efficiency, and security. He also endorsed Litecoin (LTC), comparing it to "silver" to Bitcoin's "gold," citing its efficiency in processing Ordinals. Canary Capital has filed for spot ETFs for SOL, SUI, LTC, XRP, CRO, and HBAR, but notably excluded Ethereum.
Amberdata's Greg Magadini countered McClurg’s Ethereum stance, highlighting its dominant developer ecosystem and predicting ETH could hit $8,000–$10,000. Both agree on Bitcoin’s 2025 upside, driven by inflation hedging and risk-on sentiment.