Cryptocurrency in 2025: the year in review - Luno

AS 2025 draws to a close, the cryptocurrency industry can look back on a year that fundamentally redefined its relationship with traditional finance.

- CHRISTO DE WIT

BITCOIN'S performance throughout 2025 reflected maturation rather than speculation, says the author. I SUPPLIED

Rather than operating in parallel to conventional markets, digital assets have begun to integrate into mainstream financial infrastructure.Price milestones

Bitcoin's performance throughout 2025 reflected maturation rather than speculation. The digital currency topped R2 million on Luno for the first time on 20 January - Trump's inauguration day - just 11 months after crossing the R1 million threshold. The asset continued its ascent, climbing above R2.2 million before October brought significant volatility.

The most notable correction came in early October when tariff announcements triggered a sharp decline to the current R1.47 million. Yet even this downturn revealed something important: the market's response differed markedly from previous cycles. Institutional participation has fundamentally altered volatility patterns, leverage structures, and price resilience, creating a more stable - if still dynamictrading environment.

Institutional adoption

No development better exemplified crypto's mainstream moment than BlackRock's IBIT Bitcoin ETF becoming the third-highest-revenue-generating fund in the asset manager's portfolio of over 1 000 ETFs in less than two years. This represented more than just strong performance; it signalled that major financial institutions view cryptocurrency as a core rather than a peripheral offering.

The integration extended beyond investment products. JPMorgan, Visa, and Stripe deployed cryptocurrency technology for value transfer. Discovery Bank became the first bank in Africa to integrate crypto asset trading directly into its mobile banking application through its partnership with Luno, making digital assets accessible through familiar banking interfaces.