Galaxy 2026 Outlook: Bitcoin Follows Gold Toward Monetary Hedge Status With $250K in View

Galaxy Digital has released its 2026 outlook for Bitcoin and the broader crypto market. The report frames Bitcoin's evolution beyond price cycles, arguing it is increasingly following gold's adoption curve as institutional access expands and demand for monetary hedges grows. The research team suggests a $250,000 trajectory for Bitcoin by the end of 2027. According to the report.

The report highlights key themes shaping the digital asset landscape. Institutional participation, regulatory clarity, and technological convergence are driving a new phase in crypto markets. Galaxy Research predicts that stablecoins will overtake traditional payment rails, tokenized assets will break into mainstream capital and collateral markets, and corporate blockchain projects will move toward real settlement. According to the report.

Analysts stress that long-term adoption is becoming more important than short-term price movements. While 2025 ended with prices in the red, it marked significant institutional adoption. Galaxy Research states that 2026 could be a relatively uneventful year for Bitcoin, with the asset potentially closing the year at $70,000 or $150,000. The team notes that the bullish outlook for Bitcoin is strengthening, especially with increasing institutional access and a shift toward non-dollar hedge assets. According to the report.

Why Did This Happen?

Bitcoin's adoption is being fueled by macroeconomic and institutional factors. Galaxy Research points to easing monetary policy and a market in search of alternative assets. The report's authors suggest that Bitcoin could follow gold in becoming a widely adopted hedge against monetary debasement. This trajectory could see the price reach $250,000 by year-end 2027. According to the report.

The report also forecasts growth in blockchain infrastructure, particularly on Solana. Galaxy Research predicts that the market cap for Internet Capital Markets on Solana will surge to $2 billion in 2026 from around $750 million now. According to the report.

How Will Markets Respond?

Stablecoins are expected to play a major role in the financial system. Galaxy Research predicts they will surpass ACH in transaction volume in 2026. This is already supported by data showing stablecoin transaction volumes are now comparable to those of major credit card networks like Visa. According to the report.

Regulatory developments will also shape the landscape. Galaxy Research anticipates that the SEC will grant some form of exemptive relief for tokenized securities in DeFi under its innovation exemption program. However, it also cautions that the SEC may face legal challenges from traditional market participants. According to the report.

The outlook also addresses capital markets. Galaxy Research predicts that more than 15 crypto companies will IPO or uplist in the U.S. in 2026. At the same time, the report warns that not all digital asset treasury companies will survive. It forecasts that five or more will be forced to sell assets, be acquired, or shut down completely. According to the report.

What Are Analysts Watching Next?

Digital asset treasuries are expected to diversify their strategies. Some executives predict that DATs will experiment with yield generation and new revenue streams. For example, Hyperion DeFi has launched a custom onchain perpetual futures market to generate cash revenue independently of token price movements. According to The Block.

Regulatory clarity is another key focus. The potential passage of the Digital Asset Market Clarity Act could unlock institutional capital by providing a clearer regulatory framework. Executives believe this will encourage traditional financial institutions to move existing products onchain, which could provide long-term support for digital asset prices. According to The Block.

Crypto ETFs are also expected to expand in 2026, especially under the SEC's new generic listing standards. However, industry analysts caution that not all ETFs will succeed. James Seyffart of Bloomberg estimates that over 100 crypto ETFs could launch in 2026, but many are expected to be liquidated by the end of 2027 due to a lack of demand. According to Cointelegraph.

Institutional adoption is accelerating, but challenges remain. The SEC is expected to approve more crypto ETFs, but volatility and market consolidation could impact investor sentiment. Galaxy Research suggests that the broader crypto market is moving toward a phase where value is derived from utility and ecosystem growth rather than speculative trading. According to the report.

Digital asset treasuries are expected to continue evolving as more companies explore alternative revenue models. This includes staking, tokenized asset management, and cross-border payment solutions. Executives from firms like BitMine and Hyperion DeFi are optimistic about the long-term potential of these strategies. According to The Block.