After falling to $97,000 on January 7, the flagship cryptocurrency could peak at $200,000, according to KURL Technology CEO Michael Mo.

The biggest catalyst will be plans for countries to create a strategic reserve of BTC. The US, Germany, Switzerland and other governments are currently studying this issue, he said.
Interestingly, Mo's bullish forecast for the leading cryptocurrency came a day after KURL Technology purchased over $21 million worth of bitcoins at an average price of $97,391 per coin.

This is the second investment in BTC by a public company listed on the New York Stock Exchange. It first bought bitcoin on December 26, 2024, when KURL Technology announced the purchase of 217.18 coins for approximately $21 million, at an average price of $96,556 per coin. According to the firm, it plans to invest up to 90% of its available cash in the leading cryptocurrency.

Michael Mo said he was inspired to take this step by MicroStrategy's strategy and Michael Saylor's belief in the future of Bitcoin .

"Michael Saylor calls BTC digital energy, which really resonates with our mission because we are a battery energy management company and energy is our core business,” Mo said.

Despite the KURL Technology CEO's optimism about Bitcoin's future, the cryptocurrency will need to raise another $2 trillion to surpass $200,000. That would allow the coin to surpass Apple's (NASDAQ: AAPL ) market cap, which currently stands at $3.7 trillion, and become the world's second-largest asset.