Grayscale Predicts Bitcoin Will Reach New All-Time High by March 2026

Expectations for crypto performance in 2026 are high, driven by rising demand for alternative stores of value and regulatory clarity. According to Grayscale Head of Research Zach Pandl, a more supportive regulatory environment will strengthen the crypto sector. At the same time, weakening fiat currencies will further boost demand. Together, these conditions could push Bitcoins price to new all-time highs. Market Structure Bill to Accelerate Token Issuance Crypto has evolved significantly since 2008, with especially notable progress over the past year. While milestones such as the approval of crypto exchange-traded funds (ETFs) and the passage of the GENIUS Act have narrowed the gap between digital assets and traditional finance, substantial work remains. According to Pandl, the next critical step is passing a bipartisan market structure bill. After delays caused by a government shutdown and partisan infighting in 2025, he expects the legislation to secure Senate approval early in the year. It looks like we are on track in January or in Q1, Pandl said in a CNBC interview. Even if it doesnt get done immediately bipartisan progress is really the key. We had a great call today with Chairmen @SenatorTimScott and @JohnBoozman who confirmed that a markup for Clarity is coming in January. Thanks to their leadership, as well as @RepFrenchHill and @CongressmanGT in the House, we are closer than ever to passing the landmark crypto David Sacks (@davidsacks47) December 18, 2025 Pandl emphasized that a bipartisan bill would enable firms, ranging from startups to Fortune 500 companies, to issue tokens as a standard part of their capital structures alongside traditional instruments. He also noted that broader macroeconomic conditions will have a positive impact on the price of Bitcoin. Conditions Align for a Bitcoin All-Time High Despite Bitcoins weak performance during the second half of 2025, Pandl predicts the leading digital assets luck to turn around this year. According to Grayscales 2026 digital asset outlook, it expects Bitcoins price to reach a new all-time high in the first half of the year. For Pandl, several factors will influence this outcome. Grayscales 2026 Digital Asset Outlook is here with 10 themes marking the "Dawn of the Institutional Era." Our first three themes set the tone for whats ahead with more to come. From Grayscale the worlds largest digital asset-focused investment platform¹. Click below ⬇️ Grayscale (@Grayscale) December 17, 2025 I think [2026] will be a year of dollar weakness, Federal Reserve rate cuts, and strength in gold, silver as well as Bitcoin, Ether, and some other crypto assets as digital stores of value. All of these should benefit from the macroeconomic climate were living through, he told CNBC. That, paired with the passage of a market structure bill, will further fuel a positive price outlook. Broader adoption will also drive the fasterrollout of ETFsthat provide investors withaccess to a wider range of crypto assets. As the crypto market continues to mature, Pandl also expects certain narratives to get left behind. The End of DATs? Although digital asset treasuries (DATs) experienced a surge in 2025, Pandl does not expect this momentum to carry over into the new year, referring to them as a red herring. He pointed to their accumulation model as the issue, noting that they buy infrequently, sell infrequently, and typically trade close to fair value. They are not going away, since some investors prefer accessing crypto through public equity vehicles, but they are unlikely to be major drivers of valuations on either the buy side or the sell side, Pandl explained. Instead, focus is likely to shift toward value drivers such as broader access, improved usability, and products that translate demand into market impact.