Bitcoin has experienced a lackluster performance this year, disappointing many investors despite expectations that it would thrive amid the devaluation of fiat currencies. Currently priced at $87,807.07, Bitcoin has trailed both gold and the Nasdaq 100 stock index, raising questions about its future trajectory.
David Schassler, head of multi-asset solutions at VanEck, believes that Bitcoin could be gearing up for a significant rebound in 2026. He pointed out that Bitcoin is trailing the Nasdaq 100 by approximately 50% year-to-date, suggesting that this discrepancy may position it as a leading performer in the coming years. Schassler mentioned in the firm’s recent 2026 outlook that the current year’s underperformance stems from a softer risk appetite and tighter liquidity, but insists that the underlying thesis for Bitcoin remains strong.
He emphasized that as currency devaluation accelerates and liquidity returns, Bitcoin has historically shown a robust response. “We have been buying,” he stated, outlining his investment approach.
Schassler’s broader perspective hinges on a potent mix of monetary debasement, technological advancement, and the increasing importance of hard assets. He suggests that the funding of future liabilities and political initiatives will increasingly depend on money printing, which may encourage investors to gravitate toward scarce assets like gold and Bitcoin.
Looking ahead, Schassler anticipates an upward trajectory for gold, predicting it could reach $5,000 per ounce in the upcoming year. Currently, gold is enjoying a remarkable rise, up over 70% in 2023 and trading around $4,492 per ounce. He believes that gold’s strong performance this year will continue to gain momentum.
In addition to these developments, Schassler also notes the emergence of a quiet bull market in natural resources, driven by the demands of artificial intelligence, energy transitions, robotics, and re-industrialization. He refers to these assets as “old-world assets” that are becoming crucial in laying the groundwork for the new economic landscape.
As investors look ahead to potential opportunities, the evolving dynamics within the cryptocurrency market and broader economic indicators will be closely monitored.
