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Expect high returns for cryptocurrencies in 2026, driven by increased demand for alternative value storage and regulatory clarity.
According to Grayscale Head of Research Zach Bandel, a supportive regulatory environment is fueling the strength of the cryptocurrency sector. At the same time, the weakening of paper currencies increases the demand. Together, these conditions are capable of pushing the price of Bitcoin to new highs.
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Market structure bill to accelerate token issuance
The field of digital currencies has seen significant development since 2008, with the progress being particularly notable During the past year.
While the gap between digital assets and traditional financial assets is closing due to events such as the approval of cryptocurrency exchange funds. (ETFs) With the Act of Genius Past, much remains to be done.
Bandel said the next critical step is taking place The two-party market structure law. After a delay caused by him Government stop And the partisan conflicts in 2025, expect the legislation to win the approval of the Senate at the beginning of the year.
Bandel said in an interview with CNBC that things seemed to be on track in January or the first quarter. He emphasized that bipartisan progress is indeed the key point even if it is not realized immediately.
Bandel stressed that the bipartisan law will allow companies, from startups to Fortune 500 companies, to issue tokens as a central part of their capital structures alongside traditional instruments.
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Bandel also said that Broader macroeconomic conditions It has a positive impact on the price of Bitcoin.
Conditions are in line for Bitcoin to reach an all-time high
in spite The bad performance of Bitcoin In the second half of 2025, Bandel expects the fortunes of the leading cryptocurrency to change this year.
Based on Grayscale’s 2026 digital asset forecast, expect the price of Bitcoin to reach a new record high in the first half of the year. Bandel said several factors will influence this outcome.
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Bandel told CNBC that he expects 2026 to be a year of dollar weakness, interest rate cuts by the Federal Reserve, and strength in gold and silver…as well as Bitcoin, Ether, and some other digital assets as digital stores of value. He stressed that all these assets should benefit from the macroeconomic climate in which we live.
In addition, the passage of the market structuring law project will also strengthen the positive expectations for prices.
Wider adoption has also accelerated the introduction of exchange-traded funds that give investors access to a wider range of digital assets.
Expect that as the cryptocurrency market continues to mature, some narratives will be abandoned.
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The end of DATs?
Although digital assets have seen a boom in 2025, Bandel does not expect this momentum to continue in the new year, referring to it as a “misleading signal”.
He pointed to their accumulation model as the problem, explaining that these companies rarely buy, rarely sell, and often trade close to fair value.
Bandel explained that these companies will not disappear, as some investors prefer to access cryptocurrencies through public equity vehicles, but they are unlikely to be a major driver of valuations either in buying or selling.
Instead, focus on value drivers such as wider reach, improved ease of use and products that translate demand into market impact.
