Despite the bearish atmosphere at the start of 2026, bitcoin is still drawing price targets from nearly every corner of the market, with veteran traders, institutional analysts, and high-profile executives placing calls that range from a near-term drop to $40,000 to a long-term ceiling of $1.5 million.
At Bitcoin Vegas 2026, Arthur Hayes, co-founder of BitMEX and chief investment officer at Maelstrom, said he sees bitcoin ( BTC) reaching $125,000 by December 2026. Hayes tied his outlook to returning global liquidity, potential Federal Reserve policy shifts, and artificial intelligence (AI)-driven capital dynamics. He described a retest of bitcoin’s prior all-time high just above $126,000 as likely, and remarked that a breakout past $90,000 could happen quickly once conditions align.
Michael Saylor, executive chairman of Strategy, took a longer view. Speaking on CNBC on May 21, Saylor projected bitcoin would appreciate roughly 30% annually over the next 20 years, with near-term appreciation expected before year-end 2026. He has repeatedly pointed to $1 million per coin by the end of the decade, and in more extreme long-term scenarios, has referenced $10 million as bitcoin’s true potential value as a global digital collateral asset. Saylor views current price levels as a meaningful discount and has continued buying.
