Kraken 全资子公司 CF Benchmarks 表示，机构投资者正越来越多地从资产配置角度，而非短期价格周期，来评估比特币。该公司在报告中基于资本市场模型预计，比特币到 2035 年的基准情景价格约为 140 万美元，整体估值区间为 63.7 万至 295 万美元，并指出以约 2%–5% 的比例配置比特币有助于提升投资组合效率。

<div>Kraken 全资子公司 CF Benchmarks 表示，机构投资者正越来越多地从资产配置角度，而非短期价格周期，来评估比特币。该公司在报告中基于资本市场模型预计，比特币到 2035 年的基准情景价格约为 140 万美元，整体估值区间为 63.7 万至 295 万美元，并指出以约 2%–5% 的比例配置比特币有助于提升投资组合效率。 <br><br></div>

CF Benchmarks 预计比特币 2035 年基准价约 140 万美元

Kraken's wholly owned subsidiary, CF Benchmarks, stated that institutional investors are increasingly evaluating Bitcoin from an asset allocation perspective, rather than focusing on short-term price cycles. In its report, based on capital market models, the company projects a baseline price of approximately $1.4 million for Bitcoin by 2035, with an overall valuation range of $637,000 to $2.95 million. The report also notes that allocating approximately 2%–5% of portfolio assets to Bitcoin could improve portfolio efficiency.

<div>Kraken&#39;s wholly owned subsidiary, CF Benchmarks, stated that institutional investors are increasingly evaluating Bitcoin from an asset allocation perspective, rather than focusing on short-term price cycles. In its report, based on capital market models, the company projects a baseline price for Bitcoin by 2035 of approximately $1.4 million, with an overall valuation range of $637,000 to $2.95 million. The report also notes that allocating approximately 2%–5% of portfolio assets to Bitcoin could help improve portfolio efficiency.<br><br></div>

CF Benchmarks projects Bitcoin's base price to be approximately $1.4 million by 2035.

In the crypto world, what truly determines victory is never code, but the interplay between liquidity, power, and regulation. The rise and fall of BUSD is not merely a tragic tale of a stablecoin, but a financial war waged by exchanges attempting to "unify the world."

When BUSD was thrust onto the historical stage, it carried not only a compliance narrative, but also Binance's ambition to reshape the stablecoin order through coercive measures—by manipulating exchange rates and merging trading pairs, directly swallowing competitors' liquidity into its own ledger.

The "automatic conversion" of 2022 was a textbook example of a blitzkrieg; and 2023...

The Rise and Fall of Binance's Dominance: From BUSD's "Unification" to $U's "Conquering the World"—The Stablecoin Wars

Source: Galaxy Research; Translation: Jinse Finance xz
Bitcoin's closing price in 2025 is expected to be roughly the same as the level at the beginning of the year.
The cryptocurrency market experienced a genuine bullish wave in the first ten months of this year. Regulatory reforms continued to advance, ETFs continued to attract funds, and on-chain activity became increasingly active. Bitcoin hit an all-time high of $126,080 on October 6th.
However, the market failed to deliver the expected breakthrough after the initial frenzy; instead, it experienced rotation, repricing, and rebalancing. This was driven by factors such as unmet macroeconomic expectations, a shift in investment narratives, leveraged margin calls, and massive...

Galaxy: 26 Predictions for the Crypto Market in 2026

Messari released "The Crypto Theses 2026," a report that predicts future trends in public blockchains, DeFi, AI, DePIN, and TradFi. From Messari's perspective, 2026 will be a pivotal year for cryptocurrencies, marking a shift from "speculative" to "system-level integration."

Author: Messari
Compiled/Translated by: ODIG Invest
Messari Releases "The Crypto Theses 2026"...