The head of Firmwide Research at the digital asset company Galaxy Digital predicts that Bitcoin (BTC) could reach $250,000 by the end of 2027. That is an increase of 179% compared to the current level.
This long-term expectation comes while the Bitcoin price hovers around $89,000, which is much lower than the peak in October. The cryptocurrency had a tough fourth quarter with many price fluctuations.
Galaxy Digital shares 2027 Bitcoin expectation
In a recent post on X (formerly Twitter), Alex Thorn stated that Bitcoin is evolving further and that acceptance by institutions continues to increase. According to Thorn, more institutional access, looser monetary policy, and a growing demand for assets that protect against dollar inflation create a stronger position for Bitcoin.
Thorn believes that Bitcoin could possibly be used in two years in the same way as gold is now: as a widely accepted protection against currency devaluation ('monetary debasement hedge').
BTC will reach $250k by the end of 2027,” the post stated.
He also pointed out notable changes in the volatility profile of Bitcoin. Thorn said that long-term volatility is decreasing. According to him, this is partly due to the growth of Bitcoin yield strategies and programs that sell options.
What is striking is that puts on BTC are now more expensive in terms of volatility than calls. That was not the case six months ago. This shifts us from a market with a skew seen in emerging growth markets to markets resembling traditional macro assets,” he wrote.
Although he remains positive about Bitcoin in the long term, Thorn did not provide a clear price expectation for 2026. He does not rule out new all-time highs next year, but calls 2026 'too chaotic to predict.'
According to Thorn, macroeconomic uncertainty, political developments, and other factors are responsible for this. He explains:
At the time of writing, the broader crypto market is already deep in a bear market, and Bitcoin has not yet clearly regained bullish momentum. Until the Bitcoin price firmly exceeds $100-$105k, the short-term risk remains on the negative side. Other factors in the broader financial market also contribute to uncertainty, such as investments in AI, monetary policy, and the U.S. midterm elections in November.
Furthermore, Thorn cites as an example of this uncertainty how options trading shows that investors now see equal chances of extreme outcomes.
The chance is approximately equal that the Bitcoin price will stand around $70,000 or $130,000 at the end of June 2026, and by the end of the year at $50,000 or even $250,000. This shows that there is no clear expectation about the direction in the short term.
2026 could be a boring year for Bitcoin. But whether the price ends at $70k or $150k, our bullish expectation for the long term only gets stronger,” noted the executive.
Bitcoin may not reach the 2025 price target set by Galaxy Digital.
This expectation comes while Bitcoin is on track to record the worst fourth quarter since 2018. The price has fallen 21.5% so far this quarter, and the year-to-date decline stands at 4.2%.
At the time of writing, Bitcoin is trading at $89,520, a 0.97% increase over the last 24 hours.
Due to the price performance of the largest cryptocurrency, several analysts have revised their expectations downward. Thorn previously lowered his price target for Bitcoin at the end of 2025 from $185,000 to $120,000.
He indicated that the adjustment came due to various reasons, such as whale distribution, the disappearance of leverage, capital shifting to AI stocks and gold, rapid stablecoin growth, less retail participation, and more. Still, Thorn now warns that Bitcoin may not even reach the adjusted target.
In November, we lowered our price target for the end of the year to $125k. At the time of writing, BTC is fluctuating between $80k and $90k, and it seems unlikely that we will reach the adjusted price target for 2025,” Thorn said.
So while short-term prospects remain uncertain, it is clear that this expert has a bullish expectation for Bitcoin in the long term. As 2026 approaches, the market will closely monitor how the BTC price develops.
