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VanEck’s Bitcoin Report: Institutional Interest and Mining Growth Drive Confidence
In its mid-August 2025 ChainCheck report, VanEck reaffirmed its year-end Bitcoin price target of $180,000, citing ongoing institutional demand and market resilience—even as BTC trades nearly 7.5% below its recent peak.
Institutional Support Remains Strong
VanEck identified institutional investment as the leading force behind Bitcoin’s growth. Over 3.67 million BTC are now held by 294 corporate entities, including MicroStrategy. Additionally, U.S. spot Bitcoin ETFs have attracted $54.97 billion in net inflows, managing a combined $151.9 billion in assets.
MicroStrategy’s continued BTC purchases have encouraged further institutional adoption, suggesting long-term investor confidence despite current volatility.
Market Resilience and Profitability Metrics
VanEck noted that before Bitcoin’s August 14 all-time high of $124,457, nearly 92% of BTC holders were in profit, indicating a strong support base. At the time of writing, Bitcoin trades at around $115,339, reflecting a healthy correction rather than a major trend shift.
Though Ethereum is gaining momentum with institutions, VanEck believes Bitcoin’s market role remains stable, even as activity around Ordinals declines.
Bitcoin Mining Hits New Highs
The report also highlighted the record-high mining difficulty reached last month. Despite this, miner revenues continue to grow, with U.S. miners now dominating the global hashrate.
TeraWulf’s decision to scale back operations was acknowledged but not viewed as a threat to the broader outlook.
Risks and Market Outlook
VanEck warned that low volatility could challenge corporate treasuries’ ability to raise capital for future BTC purchases. Still, with consistent ETF inflows and strong on-chain metrics, the firm believes the $180,000 target remains within reach by the end of 2025.
