Galaxy Digital sees Bitcoin reaching $250,000 by 2027
Galaxy Digital’s head of firmwide research, Alex Thorn, has predicted that Bitcoin could reach $250,000 by the end of 2027, representing a potential 179% increase from current levels.
The forecast comes as Bitcoin trades near $89,000, well below its October highs, following a volatile and difficult fourth quarter, reports BeInCrypto.
Thorn argues that Bitcoin’s long-term trajectory is supported by growing institutional access and broader macroeconomic shifts. He believes easing monetary policy and rising demand for assets that hedge against currency debasement will strengthen Bitcoin’s role in global portfolios. Over time, Bitcoin could begin to function similarly to gold as a store of value. Despite current market weakness, Thorn described his long-term conviction as “only growing stronger.”
Lower volatility signals a more mature asset
Thorn highlighted changes in Bitcoin’s volatility profile as a key signal of market maturation. Long-term volatility has been trending lower, which he partially attributes to the growth of yield strategies and option overwriting in Bitcoin markets. Notably, Bitcoin’s volatility skew has shifted, with downside protection now priced more expensively than upside exposure. According to Thorn, this mirrors patterns typically seen in traditional macro assets rather than high-growth, speculative markets.
He said this shift suggests Bitcoin is transitioning into a more established financial instrument. Institutional trading strategies are playing a larger role in shaping price dynamics. These developments, in his view, support the case for Bitcoin’s long-term price appreciation.
Near-term uncertainty clouds the path to new highs
While bullish on the long run, Thorn refrained from making a firm prediction for 2026, calling the year “too chaotic to predict.” He cited macroeconomic uncertainty, political developments, AI-related capital spending, and U.S. midterm elections as major variables. Bitcoin has struggled to regain bullish momentum, and Thorn warned that downside risk remains until the asset decisively moves above the $100,000–$105,000 range.
Options markets reflect this uncertainty, pricing similar probabilities for extreme outcomes both higher and lower. Bitcoin could trade anywhere between $50,000 and $250,000 by the end of 2026, according to current derivatives data. Despite revising down his 2025 price target earlier this year, Thorn maintained that temporary weakness does not undermine Bitcoin’s long-term potential.
Recently we wrote that Bitcoin trades near $88,850, posting small gains but still reflecting cautious positioning among investors.
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