Michael Mo, chief executive of NYSE-listed KULR Technology, said it predicted bitcoin could peak at $200,000 in the 2025 market cycle, driven by rising global adoption. "The biggest catalyst is the adoption of strategic BTC reserves by countries and states. The US, Germany, Switzerland and others are currently looking at the possibility of this strategy," Mo said. KULR Technology Group bought more than $21 million worth of bitcoin on Jan. 6 at an average price of $97,391. The $21 million purchase came just hours before bitcoin regained the $100,000 mark for the first time since Dec. 19, according to data.