London Daily

Focus on the big picture.
Friday, Aug 22, 2025

Leaked Citibank Report Reveals Bitcoin Could Rocket To $300,000 Price By End Of 2021

Leaked Citibank Report Reveals Bitcoin Could Rocket To $300,000 Price By End Of 2021

A leaked report from Wall Street giant Citibank has revealed a senior analyst thinks bitcoin could potentially hit a high of $318,000 by December 2021, calling it "21st century gold".
Bitcoin has exploded over the last few weeks, adding to gains through 2020 that's seen it more than double in value.

The bitcoin price has this week shot past $18,000 per bitcoin, causing jubilation among long-suffering bitcoin supporters and causing many to recall bitcoin's late 2017 bubble—though it's happening without 2017's mainstream bitcoin mania.

Now, a leaked report from Wall Street giant Citibank has revealed a senior analyst thinks bitcoin could potentially hit a high of $318,000 by December 2021, calling it "21st century gold."

"The whole existence of bitcoin has been characterised by unthinkable rallies followed by painful corrections, the type of pattern that sustains a long term trend," Citibank's global head of CitiFX Technicals, Tom Fitzpatrick, wrote in the note to institutional clients that was leaked on Twitter—asking: "Are we on the cusp of another such structural development?"

Pointing to a chart that shows three bitcoin bull runs over the last decade, the note suggests that the current rally could "potentially peak in December 2021, at the high of the channel, suggesting a move as high as $318,000 [per bitcoin]."

"Time will tell if we end up seeing such lofty levels but the backdrop and the price action we are looking at clearly suggest the potential for a major move higher nonetheless in the next 12-24 months."

The note claims "the arguments in favour of bitcoin could well be at their most persuasive ever," referencing bitcoin's growing reputation as digital gold and "central banks increasingly discussing the digitization of currencies."

Bitcoin is also expected to benefit from "the change in monetary policy and simultaneous opening up in fiscal policy" that could devalue traditional currencies.

This chimes with a separate note released by Citibank this week that predicts the coronavirus vaccine roll out and loose monetary policy will weigh on the U.S. dollar through 2021.

"When viable, widely distributed vaccines hit the market, we believe that this will catalyze the next leg lower in the structural USD downtrend we expect," Citi wrote, according to reports. "Given this set-up, there is the potential for the dollar's losses to be front-loaded, with the USD potentially falling by as much as 20% in 2021."

Bitcoin's rally this year has been fuelled by renewed interest from Wall Street and support from a host of big-name investors, many of whom have given their backing to bitcoin as an emerging hedge against a wave of inflation that could be on the horizon.

Amid bitcoin's latest rally, the bitcoin and cryptocurrency community has cheered what has been taken as vindication of their much-maligned belief in bitcoin's eventual success.

"The dawn of the next great crypto bull run may be upon us," Paolo Ardoino, chief technology officer at British Virgin Islands-based bitcoin and cryptocurrency exchange Bitfinex, said via email. "We are seeing bitcoin prices that have not been reached in years. This time, institutional money is infusing bitcoin’s gains."
Comments

Oh ya 5 year ago
So some think bitcoin is a hedge against inflation so please tell me what going from 18g to maybe 300g is? And a detail explanation on what bitcoin is back by, 20 yrs ago it was not here, now some think it is worth something, why is it worth anything? Much like paper currency it has no value other than what someone tells you it is worth. At least paper currency is backed, somewhat from a bankrupt country.

Newsletter

Related Articles

0:00
0:00
Close
After 200,000 Orders in 2 Minutes: Xiaomi Accelerates Marketing in Europe
Ukraine Declares De Facto War on Hungary and Slovakia with Terror Drone Strikes on Their Gas Lifeline
Animated K-pop Musical ‘KPop Demon Hunters’ Becomes Netflix’s Most-Watched Original Animated Film
New York Appeals Court Voids Nearly $500 Million Civil Fraud Penalty Against Trump While Upholding Fraud Liability
Elon Musk tweeted, “Europe is dying”
Far-Right Activist Convicted of Incitement Changes Gender and Demands: "Send Me to a Women’s Prison" | The Storm in Germany
Hungary Criticizes Ukraine: "Violating Our Sovereignty"
Will this be the first country to return to negative interest rates?
Child-free hotels spark controversy
North Korea is where this 95-year-old wants to die. South Korea won’t let him go. Is this our ally or a human rights enemy?
Hong Kong Launches Regulatory Regime and Trials for HKD-Backed Stablecoins
China rehearses September 3 Victory Day parade as imagery points to ‘loyal wingman’ FH-97 family presence
Trump Called Viktor Orbán: "Why Are You Using the Veto"
Horror in the Skies: Plane Engine Exploded, Passengers Sent Farewell Messages
MSNBC Rebrands as MS NOW Amid Comcast’s Cable Spin-Off
AI in Policing: Draft One Helps Speed Up Reports but Raises Legal and Ethical Concerns
Shame in Norway: Crown Princess’s Son Accused of Four Rapes
Apple Begins Simultaneous iPhone 17 Production in India and China
A Robot to Give Birth: The Chinese Announcement That Shakes the World
Finnish MP Dies by Suicide in Parliament Building
Outrage in the Tennis World After Jannik Sinner’s Withdrawal Storm
William and Kate Are Moving House – and the New Neighbors Were Evicted
Class Action Lawsuit Against Volkswagen: Steering Wheel Switches Cause Accidents
Taylor Swift on the Way to the Super Bowl? All the Clues Stirring Up Fans
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Apple Expands Social Media Presence in China With RedNote Account Ahead of iPhone 17 Launch
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Cambridge Dictionary Adds 'Skibidi,' 'Delulu,' and 'Tradwife' Amid Surge of Online Slang
Bill Barr Testifies No Evidence Implicated Trump in Epstein Case; DOJ Set to Release Records
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
The CEO Who Replaced 80% of Employees for the AI Revolution: "I Would Do It Again"
Emails Worth Billions: How Airlines Generate Huge Profits
Character.ai Bets on Future of AI Companionship
China Ramps Up Tax Crackdown on Overseas Investments
Japanese Office Furniture Maker Expands into Bomb Shelter Market
Intel Shares Surge on Possible U.S. Government Investment
Hurricane Erin Threatens U.S. East Coast with Dangerous Surf
EU Blocks Trade Statement Over Digital Rule Dispute
EU Sends Record Aid as Spain Battles Wildfires
JPMorgan Plans New Canary Wharf Tower
Zelenskyy and his allies say they will press Trump on security guarantees
Beijing is moving into gold and other assets, diversifying away from the dollar
Escalating Clashes in Serbia as Anti-Government Protests Spread Nationwide
The Drought in Britain and the Strange Request from the Government to Delete Old Emails
Category 5 Hurricane in the Caribbean: 'Catastrophic Storm' with Winds of 255 km/h
"No, Thanks": The Mathematical Genius Who Turned Down 1.5 Billion Dollars from Zuckerberg
The surprising hero, the ugly incident, and the criticism despite victory: "Liverpool’s defense exposed in full"
Digital Humans Move Beyond Sci-Fi: From Virtual DJs to AI Customer Agents
YouTube will start using AI to guess your age. If it’s wrong, you’ll have to prove it
×