Bitcoin Predicted to Be Among the Most Lucrative Investment Instruments in 2025, Despite Not Being Legalised in Vietnam

The year 2024 marks a historic record for the digital currency as its price surpassed US$100,000 per bitcoin on Dec 5 and reached a peak of US$108,000/bitcoin on Dec 17.

Despite being illegal in Vietnam, bitcoin is predicted to be one of the most lucrative investment instruments in 2025.

The digital currency hit a historic high in 2024, with its price surpassing US$100,000 per bitcoin on 5 December and peaking at US$108,000/bitcoin on 17 December.

It then dropped to US$92,000/bitcoin on 20 December last year after the US Federal Reserve chair Jerome Powell stated that the institution was not permitted to own bitcoin and did not wish to change the laws to do so. However, the price recovered quickly to nearly US$99,000/bitcoin in the final days of 2024 as large investors continued to buy and hold.

The price was listed at US$97,680/bitcoin on 4 January at 10.45pm by CoinMarketCap, a price-tracking website for crypto assets, showing an increase of 0.22% in the last 24 hours.

Major cryptos have seen positive growth since the beginning of the year, with bitcoin increasing by 130%, ethereum by 52%, bnb by 124%, and dogecoin by over 300%.

2024 also saw a historic turning point for cryptos with the introduction of exchange-traded funds (ETF) of bitcoin and ethereum, the second-biggest cryptocurrency by market capitalisation after bitcoin. This signifies the organised participation of institutional investors and top global professional asset managers in the digital currency market.

An ETF is an investment vehicle that combines a group of securities, such as stocks, bonds, cryptos, and other types of assets, into a fund.

It can be traded on an exchange like an individual stock.

Investors in bitcoin and other digital currencies are looking forward to Donald Trump’s presidency as he has promised ‘friendly’ policies towards the crypto industry.

A Council of Advisers for Digital Assets is being formed after the US Blockchain Association sent a letter to the President-elect and the US Congress, urging them to adopt policies that will promote the adoption of digital assets in the first 100 days of his presidency.

Earlier, during his presidential campaign, Trump had mentioned the idea of creating a bitcoin reserve when he took office several times.

Economist Dinh Trong Thinh said that cryptocurrencies, including bitcoin, were the most profitable investments in 2024 and will remain so next year.

“I believe the price of cryptocurrencies will continue to grow in 2025. This is an unconventional investment channel in Vietnam.

“But in reality, many Vietnamese are investing in and holding cryptocurrencies,” he said.

“The government needs to quickly issue a legal framework for digital assets and digital currencies to both protect investors and prevent tax evasion.”

Due to their perceived lucrativeness, frauds related to digital currency trading are very common in Vietnam.

A prime recent example is the case of Pho Duc Nam from Ba Ria–Vung Tau Province, who is known on the social media platform TikTok as Mr Pips and lured more than 2,600 people into foreign exchange and derivatives trading and got assets worth 5.2 trillion dong seized or frozen by the authorities.

Another case is Ho Thi Bich Ngoc from Hanoi, who performed a similar fraud and appropriated nearly 500 billion dong. — Viet Nam News/ANN