Bitcoin Set to Smash 2025 Peak Imminently, Miller Value Partners Executive Declares

Forget the sideways grind—Bitcoin's next leg up is already in motion, according to a top fund manager.

The Countdown to a New High

A key figure at Miller Value Partners is sounding the alarm for skeptics: Bitcoin isn't just recovering; it's gearing up to punch through its previous all-time high from 2025. And soon. The call isn't based on hopium but on a reading of market structure that suggests the consolidation phase is over.

Beyond the Cycle Narrative

This isn't about the tired four-year cycle story. The argument hinges on capital flows and institutional adoption reaching an inflection point that prior peaks didn't see. Traditional finance might still be debating ETF fees, but the asset itself is moving—bypassing the usual doubters.

The Final Hurdle

Liquidity remains the last gatekeeper. Once it floods in to meet pent-up demand, the path of least resistance points straight up. Watch for a volatile, decisive break above the old benchmark—it could happen in a single trading session, leaving slow-moving portfolios in the dust. After all, on Wall Street, being fashionably late is just another way to miss the rally.

Bitcoin’s 2025 Dip Looks Minor In Context Of Long-Term Volatility

Miller pointed to a shift in regulatory tone over the past year and a broader embrace of blockchain infrastructure by mainstream finance. In his view, that backdrop has changed the playbook for investors trying to size the next leg of the cycle.

On price action, he said the setup looks constructive again. “It looks like it’s ready to go again,” he said. “I personally expect it to break out to a higher high than its all-time high from the fall.”

Miller brushed off Bitcoin’s weak stretch in 2025 as noise relative to its history.

“It was down 6% in 2025. For an asset with that level of volatility over the long run, that’s not a big deal,” he said, urging investors to zoom out and view Bitcoin and Gold through the same macro lens.

Miller Sees Value In Strategy After Stock’s Sharp Pullback

He then explained how he prefers to express that view in public markets, pointing first to Strategy, the company known for using leverage and capital markets to build large Bitcoin holdings. He said the stock’s recent underperformance has improved its valuation appeal.

Miller said Strategy now trades close to its net asset value and he does not expect meaningful downside from those levels. He added that the company’s structure provides Leveraged exposure to Bitcoin, which could allow it to outperform if crypto markets turn decisively risk on.