Despite the recent market turbulence that was triggered by Trump’s trade tariffs and a broader sell-off in altcoins, Bitcoin held relatively steady. Now, well known people in the industry like Adam Back and Joe Burnett are still bullish, and predict long-term price targets as high as $2.1 million by 2035. Meanwhile, Bitcoin adoption continues to expand, with Scotland’s Lomond School becoming the UK’s first to accept BTC for tuition and introducing a curriculum on Bitcoin and Austrian economics in partnership with author Saifedean Ammous.
Michael Saylor Signals Bitcoin Buying Spree
Michael Saylor, co-founder of Strategy, signaled the company's intention to resume its aggressive Bitcoin acquisition strategy after a brief two-week pause. On March 31, Strategy made its latest purchase of 22,048 BTC, which brought up its total holdings to 528,185 BTC.
According to data from SaylorTracker, the firm’s Bitcoin investment is currently up by around 26%, translating to over $8.6 billion in unrealized gains. Despite the recent downturn that saw Bitcoin's price dip below $80,000, Strategy was able to maintain its accumulation pace. This proved that there is still strong institutional confidence in Bitcoin.
Strategy Bitcoin (Source: SaylorTracker)
Bitcoin demonstrated resilience despite the recent macroeconomic uncertainty, particularly as global markets reacted to escalating trade tensions between the US and China. President Donald Trump’s sweeping tariff orders triggered a historic $5 trillion sell-off in global equities, and cryptocurrencies were not immune.
Data from Total3, which is a market cap tracker excluding BTC and ETH, revealed that altcoins have lost more than 33% of their value since peaking in December of 2024. In contrast, Bitcoin dropped approximately 22% from its January 2025 high of over $109,000, but is holding relatively steady around the $84,000 level.
BTC’s price action over the past month (Source: CoinMarketCap)
This price stability fueled the narrative of Bitcoin as a store-of-value asset, distinct from traditional risk-on investments. At Paris Blockchain Week 2025, Adam Back, CEO of Blockstream and well known cypherpunk, suggested that Bitcoin's appeal as digital gold is growing in light of persistent macroeconomic threats.
Back anticipates inflation rates could surge to between 10% and 15% over the next decade, putting pressure on returns from conventional asset classes like stocks and real estate. He believes in Bitcoin’s potential to compete directly with gold, and explained that it could begin to take over gold’s traditional use cases as more investors look for protection against monetary debasement.
Analysts Stick to Bold Bitcoin Predictions
Bitcoin is still on a long-term bullish trajectory despite recent price corrections and weakening investor sentiment that was triggered by escalating global trade tensions. Joe Burnett, director of market research at Unchained, shared his perspective during a live show, and predicted that Bitcoin could still reach $1.8 million by 2035.
He mentioned two models he considers credible: the "parallel model," which forecasts Bitcoin at $1.8 million, and Michael Saylor’s “Bitcoin 24” model, which projects a $2.1 million price point in the same timeframe. Burnett believes that both serve as realistic base cases, but Bitcoin’s future value could surpass them depending on broader macroeconomic shifts.
The ongoing trade war climate, spurred by President Donald Trump’s aggressive tariff threats since taking office in January, dented risk appetite across equities and crypto markets. While physical and tokenized gold emerged as beneficiaries of this risk-off sentiment, Bitcoin’s store-of-value appeal remains intact. Burnett compared Bitcoin’s potential to the technological shift from horse-and-buggy to automobiles, and argued that Bitcoin’s properties will allow it to eventually eclipse gold’s $21 trillion market capitalization. If Bitcoin were to match that valuation today, it would be worth $1 million per coin.
Despite short-term weakness and falling ETF inflows, Bitcoin’s volatility continues to decline in both bull and bear markets, which he believes is a sign of growing maturity in the asset class. Burnett acknowledged that another steep drawdown of up to 80% could still happen during future bear cycles, but he sees these periods as strategic entry points for long-term holders with strong conviction. BitMEX co-founder Arthur Hayes shares a similar opinion, and predicted Bitcoin could reach $250,000 by the end of 2025 if the US Federal Reserve shifts back to quantitative easing.
(Source: Arthur Hayes)
However, in the immediate term, uncertainty surrounding global trade negotiations continues to pressure market sentiment. Enmanuel Cardozo, a market analyst at tokenization platform Brickken, pointed out that investors are reluctant to take on big positions over the next 90 days as they await more clarity on the tariff landscape. With capital flowing out of Bitcoin ETFs, many are reallocating funds into traditional safe havens like gold and strong national currencies.
UK School Adds Bitcoin and Austrian Economics Curriculum
In other Bitcoin-related news, a private educational institute in Scotland announced that it will begin accepting Bitcoin for tuition payments starting in the autumn semester of 2025. This will make it the first school in the United Kingdom to adopt BTC as a payment method.
Interestingly, the school also partnered with Saifedean Ammous, the well-known author of The Bitcoin Standard, to develop a new curriculum that is focused on Bitcoin and Austrian economics. Ammous is very excited for the initiative, and stated that his goal is to make the material widely accessible to students all around the world.
Claire Chisholm, Principal of Lomond School, confirmed the collaboration. She looks forward to working with Ammous and appreciates the strong support from the broader Bitcoin community. The forthcoming curriculum is expected to provide students with a foundational understanding of Bitcoin’s principles and the economic theories that underpin it, particularly those rooted in Austrian economics. This is a school of thought known for advocating sound money and limited government intervention.
Ammous’s book The Bitcoin Standard was first published in 2018, and played a pivotal role in popularizing Bitcoin’s monetary philosophy. More than one million copies have been sold in 38 languages. Now, the collaboration with Lomond School is a major milestone in the expanding relationship between Bitcoin and mainstream education.
Across the world, academic institutions have increasingly embraced Bitcoin as both a topic of scholarly inquiry and a practical financial tool. The University of Nicosia in Cyprus was one of the first to offer a Master’s in Digital Currency back in 2013. This was followed by courses at major US universities like NYU’s Stern School of Business, which introduced a course on the law and business of cryptocurrencies in 2014, and Stanford University’s Bitcoin and Cryptocurrencies course that was launched in 2015.
More recently, the University of Austin unveiled a $5 million Bitcoin investment fund in February of 2025 as part of its larger $200 million endowment, making it the first of its kind. Before that, it was revealed that Emory University invested more than $15 million into Bitcoin through Grayscale’s spot Bitcoin ETF.
