Nansen co-founder and CEO Alex Svanevik has projected that Bitcoin could reach $1 million by 2030 while arguing that the asset may never trade below $60,000 again.

Monetary expansion could carry Bitcoin toward $1 million

In a statement to crypto.news, Nansen co-founder and CEO Alex Svanevik said Bitcoin’s long-term value will depend largely on global liquidity, government spending, and the continued expansion of the money supply.

Rather than pointing to one event that could send Bitcoin (BTC) to $1 million, Svanevik described the cryptocurrency as an alternative to monetary systems in which central banks and governments can create more currency. Bitcoin’s supply rules limit the total number of coins to 21 million, although new BTC will continue entering circulation through mining until the maximum supply is reached.

“I think the base case for Bitcoin is basically that you get higher lows, and you do have these run-ups that happen, roughly every four years,” Svanevik told crypto.news.

Under his argument, more money circulating through financial markets can raise demand for assets with limited supply. Svanevik said the direction of global liquidity matters more to Bitcoin’s long-term price than any single headline or market event.

“The more circulating money supply in a broad sense, the higher Bitcoin goes. I think Bitcoin should be thought of as a counterpoint to what’s happening on the central bank side, or the treasury side.”

Bitcoin’s four-year market pattern is often linked to its halving schedule, which cuts the block reward paid to miners. The next halving is expected in 2028, reducing new supply before Svanevik’s 2030 target date. Previous cycles have included steep rallies after halvings, but they have also produced drawdowns of more than 50%, meaning the historical pattern does not guarantee another increase.

An August 2025 Bitcoin forecast review published by crypto.news placed many 2030 projections between $250,000 and $500,000. The report also cited ARK Invest’s bull case of $1.5 million, base case of about $700,000, and bear case near $300,000.

Svanevik compared today’s $1 million forecasts with predictions made when Bitcoin traded far below $100,000. In his view, monetary debasement changes the unit used to measure Bitcoin, making price levels that once appeared unrealistic easier to consider over time.

“It sounds crazy to say Bitcoin at $1 million from our vantage point, but I’m sure it sounded crazy to say $100,000 Bitcoin if you’re in 2018,” he said. “You’re updating the unit of account because we’re just spending so much more money.”

Why Svanevik believes Bitcoin will hold above $60,000

Alongside his 2030 projection, Svanevik said he does not expect Bitcoin to return below $60,000, describing the level as a permanent floor in his personal assessment.

“My personal view is that I don’t think Bitcoin is ever going to go back below $60,000. I think forever.”

The claim rests on Svanevik’s expectation that future market cycles will establish higher lows. Continued currency creation, combined with Bitcoin’s fixed maximum supply and growing use among retail and institutional investors, supports his view that demand will prevent another fall beneath the threshold.

Market history, however, shows how difficult permanent price-floor forecasts can be. Bitcoin briefly traded below $60,000 in February 2026, while June volatility later pushed it close to the same level. On June 28, Bitcoin held near $60,000 after falling to its lowest price since late 2024.

More recently, BTC slipped below $63,000 on Aug. 3 as ETF outflows, security concerns, and uncertainty over U.S. crypto legislation weighed on the market. The asset traded near $62,556 at the time, down 4.35% over seven days, according to a report on the decline.

Veteran trader Peter Brandt has offered a different assessment of the same price region. Brandt said on Aug. 10 that he would lean toward another decline, while his head-and-shoulders chart pointed to a possible move toward $58,000 if BTC failed to recover key resistance.

The scenario was a technical projection rather than a confirmed target. Brandt had not opened a trade based on the pattern, and a sustained break above $67,260 would weaken the bearish setup shown on his chart.

U.S. ETFs extend Bitcoin access to large portfolios

For American investors, Svanevik’s expectation that Bitcoin will enter more retail and institutional portfolios can already be measured through U.S.-listed spot Bitcoin exchange-traded funds. The products allow investors to gain price exposure through brokerage and retirement accounts without directly holding private keys.

Demand through those funds has not moved in one direction. U.S. spot Bitcoin ETFs recorded nine consecutive sessions of net withdrawals in late May 2026, with investors removing roughly $2.8 billion. BlackRock’s iShares Bitcoin Trust accounted for about $2.04 billion of the total, while May ended with approximately $2.43 billion in net outflows.

Fund demand later recovered. During the five sessions ending Aug. 7, U.S.-listed Bitcoin ETFs attracted more than $850 million, their strongest weekly inflow total since April. The reversal showed that regulated investment products can add buying demand when capital enters, although redemptions can create selling pressure when investors reduce exposure.

Institutional disclosures also offer evidence that some U.S. advisers are adding Bitcoin products to diversified portfolios. Clear Creek Financial Management reported about $10.4 million across three Bitcoin ETFs in its latest Form 13F, led by a $9.69 million position in Bitwise’s BITB.

Form 13F reports cover certain long positions held by investment managers overseeing at least $100 million in qualifying U.S. securities. Because the filings are backward-looking and exclude cash, short positions and some other assets, they do not prove that the disclosed holdings remain unchanged.

Svanevik placed Bitcoin alongside gold as one of the best-known assets used by investors seeking protection from currency debasement. Portfolio inclusion, in his assessment, will expand as both individual buyers and institutions look for assets outside systems based on discretionary money creation.

“Bitcoin is kind of the most well-known way to counter that, except for maybe gold,” he said. “That’s why I do think it’s going to be part of a lot of people’s portfolios, both retail and institutions.”

Bitcoin’s $1 million target remains a conditional forecast

Reaching $1 million would require Bitcoin to rise almost sixteenfold from a price of roughly $64,000. At that price, its fully diluted value would approach $21 trillion because the protocol limits total supply to 21 million coins, although circulating supply will remain lower than the maximum in 2030.

Svanevik did not present the target as guaranteed. His case depends on continued monetary expansion, increasing portfolio adoption, and the absence of major threats capable of damaging Bitcoin’s role as an alternative monetary asset.

Regulatory restrictions, declining liquidity, or weaker institutional demand could interfere with that path. ETF activity in 2026 has already shown that professional capital can leave the market quickly when economic conditions or risk appetite change.

Svanevik nevertheless considers the seven-figure target possible within the remaining years of the decade.

“There’s nothing that suggests that we’re going to stop printing money; on the contrary, probably,” he said. “And in 2030, I think a million dollars per Bitcoin is definitely within the realm of possibility.”

Winklevoss-backed Zcash (ZEC) treasury company Cypherpunk Technologies has announced plans to pivot focus to its cancer drug candidate after it reported a $37.8 million net loss for the first six months of 2026.

Unless the price of ZEC rallies soon, the company has admitted that it will need to raise a lot of money to pay for its upcoming FDA trials.

“We expect to continue to generate operating losses for the foreseeable future,” the company forecasted today.

Cypherpunk’s ZEC holdings are worth roughly $157 million, yet Nasdaq traders value the entire company at just $74 million.

That is a basic multiple-to-Net Asset Value (mNAV) of just 0.47x and sadly unremarkable as crypto treasury stocks continue to trade for less than their holdings.

Counting pre-funded warrants and other sweeteners for its self-described Enterprise Value mNAV brings that multiple up to 0.96x on the company’s homepage — still less than the value of its ZEC.

Backed by Cameron and Tyler Winklevoss

Cameron and Tyler Winklevoss are the billionaires who helped create the company’s ZEC brand. 

Initially successful, the company was able to acquire its ZEC for a $341.84 average purchase price — well below the current market for ZEC at $486.

The stock also hit $3.70 last November before falling back below $0.69 per share today.

Cypherpunk has lost tens of millions of dollars this year and continues to plan an expensive FDA trial path for its cancer drug. The stock has lost 40% of its value this year and 96% of its value over the past five years.

Gemini, the exchange the Winklevoss twins control, is the custodian for the company’s ZEC.

Doubt, fear, and confusion 

Anchorpoint Financial, a Hong Kong-licensed stablecoin issuer, has named HashKey Exchange as an authorized distributor for its Hong Kong dollar stablecoin, HKDAP. The move is designed to broaden eligible institutions’ and professional investors’ access to the fiat-backed token as Hong Kong’s regulated stablecoin framework continues to roll out.

In a Tuesday announcement, the companies said the distribution arrangement is part of a beta phase. HashKey reported that it has already completed its first HKDAP minting and redemption cycle with eligible clients, including both fiat on-ramps and off-ramps. Anchorpoint and HashKey also indicated that they intend to expand distribution over time and assess additional applications for HKDAP, such as cross-border payments, settlement workflows, and tokenized finance.

Key takeaways

• HashKey Exchange has been added as an authorized distributor for Anchorpoint’s HKDAP, expanding regulated access to the Hong Kong dollar stablecoin.
• The rollout is in beta, with HashKey already completing an initial HKDAP minting and redemption transaction using eligible clients.
• Anchorpoint plans to widen distribution and explore use cases beyond payments, including settlement and tokenized finance.
• HKDAP is positioned as “HKD At Par,” aiming to act as tokenized money within Hong Kong’s licensed stablecoin market.

Why the HashKey distribution matters for Hong Kong’s regulated stablecoin rollout

Distribution partners are often the practical bridge between an issuer’s compliance setup and the end-user access that determines whether a regulated stablecoin can scale. By authorizing HashKey Exchange to distribute HKDAP during a beta phase, Anchorpoint is effectively widening the number of institutional and professional channels through which the token can be minted, redeemed, and used.

HashKey’s confirmation that it has already completed an initial minting and redemption transaction is notable because it signals that at least part of the operational rails are live—not just planned. The inclusion of fiat on- and off-ramping in that first cycle also points to a focus on converting between traditional currency and the tokenized asset in a way that can support real transaction flows.

The companies framed the arrangement as expandable over time. For market participants watching Hong Kong’s stablecoin regime, the next question is how quickly authorized distribution can broaden beyond the initial set of participants, and whether additional ecosystem services will integrate HKDAP for payments and settlement.

What HKDAP is, and Anchorpoint’s regulatory positioning

HKDAP—short for “HKD At Par”—is described as a regulated Hong Kong dollar stablecoin intended to function as tokenized money for payments and other financial transactions. Anchorpoint’s role as the issuer is anchored in Hong Kong’s licensing process: the company was among the first to receive a stablecoin issuer license from the Hong Kong Monetary Authority.

Anchorpoint is a joint venture involving Standard Chartered Bank (Hong Kong), HKT, and Animoca Brands. According to earlier coverage by Cointelegraph, the venture was established in April 2025. Cointelegraph previously reported on the earlier plans by Standard Chartered and Animoca Brands—together with HKT—to launch a Hong Kong dollar-backed stablecoin.

As these licensing milestones are reached, the industry typically shifts from “permissioning” to “distribution and adoption.” In that sense, the HashKey beta rollout can be read as a step toward converting regulatory approval into day-to-day market usage.

Hong Kong dollar stablecoins could grow—if adoption data catches up

Hong Kong dollar-backed stablecoins may have the potential to become a meaningful segment of the broader stablecoin market, particularly given the city’s push for regulated issuance and supervision. A 2025 Citi report cited by the article’s underlying coverage estimated that stablecoin circulation in Hong Kong could reach $16 billion after the introduction of the local licensing regime.

Even so, observers face a data challenge. For now, US dollar-pegged tokens remain the clear majority of the global stablecoin market, while synthetic stablecoins are another smaller, emerging category. Reliable, public information on how much HKD-pegged supply exists and how widely it is used remains limited, making it difficult to judge where Hong Kong dollar stablecoins currently stand relative to that growth forecast.

Meanwhile, broader stablecoin activity has continued to intensify. The same underlying reporting points to Bernstein data showing that the combined adjusted transaction volume of USDC and USDt reached roughly $3.8 trillion in the first quarter of the year. While that figure does not measure HKDAP directly, it does underline that stablecoins remain central to large-scale on-chain transaction activity—creating a potentially supportive backdrop for new fiat-pegged entrants once distribution and liquidity deepen.

Next steps: broader access, more use cases, and what to monitor

Anchorpoint and HashKey said they plan to expand distribution over time and explore additional uses for HKDAP beyond basic minting and redemption. The proposed directions—cross-border payments, settlement, and tokenized finance—are closely tied to where tokenized currencies can deliver operational benefits, such as faster settlement cycles and programmable settlement for financial transactions.

For investors, traders, and institutional builders, the most actionable signals to watch will likely include how quickly distribution expands to more eligible counterparties, whether HKDAP liquidity improves across participating venues, and what concrete integrations emerge for payments and settlement. Just as important, market participants will want clearer visibility into HKDAP adoption over time—especially once Hong Kong dollar stablecoin activity becomes more measurable and comparable across issuers and channels.

As the beta phase progresses, the real test will be whether HKDAP can move from a licensed token concept into a consistently used fiat rail—one supported by distribution partners like HashKey and by credible, repeatable minting/redemption demand from regulated participants.