A new report by Bitcoin veteran Tuur Demeester and Adamant Research suggests that Bitcoin might still be in the middle of what could be one of the biggest bull runs in its history. In fact, according to their findings, Bitcoin could see a price jump of 4-10 times its current value, pushing it to a target price above $500,000 per BTC. Pretty bold, right?
The report, aptly titled How to Position for the Bitcoin Boom, lays out some seriously optimistic projections. The Bitcoin boom isn’t over yet, and according to Demeester, the market is currently experiencing a phase of “quiet strength.” The “mid-cycle” phase, as they call it, is where Bitcoin could make massive leaps, with some indicators showing that whales (large investors) are holding their coins rather than dumping them. The fact that experienced holders are holding steady, especially in 2025, suggests that the market is still in healthy, mid-cycle optimism, rather than late-stage euphoria.
Now, here’s the juicy part: According to the report, 50-70% of Bitcoin’s supply is in unrealized profit, which, in my opinion, is a good sign. It indicates that Bitcoin’s momentum isn’t being driven by hype or speculative frenzy but by solid long-term conviction. Plus, no major capitulation has been observed from holders, a key indicator that the market isn’t nearing its peak just yet.
Possible Headwinds? Not So Much
Sure, there are potential risks, like a major hack or the dominance of centralized exchanges like Coinbase, which holds 10% of the Bitcoin supply. But let’s be honest, hacks haven’t had a major impact on Bitcoin’s price in the past. Remember when 120,000 BTC was stolen from Bitfinex in 2016? The price barely blinked. And even with major events like the Mt. Gox liquidation and Coinbase’s growing influence, Bitcoin has managed to keep its cool. The report notes that a macro crash could cause some short-term volatility, but Bitcoin’s future performance will likely outshine commodities and inflation in the long run.
Bitcoin Over Altcoins—Tuur Demeester’s Bold Stand
I think it’s safe to say that Tuur Demeester is all-in on Bitcoin. The report breaks from previous advice, suggesting that Bitcoin should be the sole focus of an investor’s portfolio. Altcoins like Ethereum, Ripple, and Cardano are “vastly inferior,” according to the authors, and won’t stand a chance as Bitcoin continues to dominate. They go so far as to compare Bitcoin to the base layer of the internet, one dominant protocol, and nothing else really matters.
One of the biggest factors driving Bitcoin’s current and future growth? It’s all about being a “long-term store of value.” With inflation running rampant, bonds losing their appeal, and real estate losing its hedge status, people are turning to Bitcoin as a safe haven. This is a major reason for the continued interest in Bitcoin; more than just its speculative nature, it's quickly becoming a critical asset in the global financial system.
U.S. Pushes Bitcoin Adoption
It’s no surprise that Bitcoin is getting more attention in the U.S. With pro-Bitcoin policies from the Trump administration, including the creation of a National Strategic Bitcoin Reserve and the GENIUS Act, the U.S. is pushing full speed ahead on Bitcoin adoption. And this isn’t just a local phenomenon. The report mentions that the U.S. is setting a global ripple effect in motion. More and more nations are being forced to consider their own Bitcoin strategies.
How Much Bitcoin Should You Hold?
For anyone wondering how much of their portfolio should be allocated to Bitcoin, the report provides some helpful guidelines. A 5% allocation is a good starting point for those looking for insurance against systemic risks. Want to go bigger? A 10% allocation acts as a speculative hedge. If you’re feeling confident and looking to retire early, you might even go as high as 20-50%. But for newcomers, multi-signature wallets are the recommended option for keeping their assets safe while maintaining some self-sovereignty.
The Bull Run Isn’t Over Yet
So, where do we stand? Tuur Demeester and Adamant Research are firm in their belief that Bitcoin is still in its “mid-cycle” phase, and the real fireworks are still ahead. With institutional adoption, macroeconomic factors, and unwavering conviction from long-term holders, Bitcoin could very well redefine its role in the global financial system. The next few years might just be the time when Bitcoin finally proves its true potential as a store of value.
I believe that this is just the beginning and that Bitcoin may reach some genuinely astounding heights in the years to come.
Matvii Diadkov
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