Bitcoin could enter a historic supercycle, potentially reaching $450,000 by 2026, driven by global debt monetization and liquidity.

Raoul Pal, a respected macro strategist, predicts a historic Bitcoin supercycle by the end of 2026, fueled by increasing global debt monetization and massive liquidity injections. He highlights a strong correlation between Bitcoin’s price and the global M2 money supply, suggesting that rising liquidity benefits Bitcoin as a rare asset. Institutional adoption through spot Bitcoin ETFs and large accumulations by companies like Michael Saylor’s Strategy further reduce market supply, potentially accelerating price growth. Pal’s optimistic target is $450,000 per BTC by 2026, though he notes this is a probabilistic projection amid market volatility.