Bitcoin’s next supercycle: why a supply shock could send prices soaring

Transform Ventures CEO and author of "Bitcoin Supercycle” Michael Terpin joins CoinDesk's Jennifer Sanasie on Markets Outlook to explain why he believes the bear market is over and "Bitcoin winter," the long climb back to the top, has officially begun. Terpin lays out his path to $120K by late next year, why 2028-29 could bring a rare collision of presidential and stock market cycles, when he sees million-dollar bitcoin, and why he believes an altcoin supercycle is coming too.

Plus, GSR’s Managing Director of Asset Management Andy Baehr on why fixed income, not equities, will be the real catalyst that takes tokenization mainstream.

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Timecodes:

00:00 - Michael Terpin Joins Markets Outlook

01:02 - Bitcoin Winter Is Here: Why the Bull Market Has Begun

02:40 - The Four Seasons of Bitcoin, Explained

04:45 - The Path to $120K Bitcoin

06:02 - Does the AI Trade Make This Cycle Different?

07:34 - When Bitcoin Breaks From Risk Assets

08:52 - The 2028-29 Cycle Collision

10:39 - Why Million-Dollar Bitcoin Needs a Supercycle

12:58 - Brand New Rails: Why Fixed Income Beats Equities for Tokenization

16:12 - Million-Dollar Bitcoin by 2037?

17:45 - 95% Mined: The Coming Supply Shock

18:38 - 28M Millionaires, 21M Bitcoin: What the Market Is Missing

19:44 - What Happens When the Last Bitcoin Is Mined?

20:52 - The Coming Altcoin Supercycle

22:53 - Memecoins Meet Tokenized Stocks