Expect bitcoin to hit a new all-time high in 2026, says Swan Bitcoin CEO
2025-12-26_23-21 • 3m 21s
Brian Sullivan (Senior National Correspondent)
00:00.000
Swan
Bitcoin
CEO,
Corey
Clifton.
All
right,
Corey,
so
obviously
you're
exposed
to
Bitcoin,
you
want
it
to
do
well,
you're
not
coming
in
as
a
a
neutral
party,
make
the
bull
case
for
Bitcoin
and
other
cryptos
right
now.
Corey Klippsten (CEO and Founder)
00:16.200
Brian,
uh
you're
the
lucky
charm
for
Bitcoin
and
uh
and
we're
here
to
usher
in
a
a
nice
new
rally
in
2026.
So
yeah,
it
has
been
it
has
been
a
rough
fall
uh
right
after
a
nice
rise.
Remember
we
actually
touched
73K
before
that
rise
up
to
126,
and
now
we're
settling
into
kind
of
Corey Klippsten (CEO and Founder)
00:34.960
the
high
80s.
It's
been
bouncing
between
85
and
90,
maybe
91
for
a
couple
of
weeks
now.
I
think
the
bigger
story
if
I
zoom
out
is
these
four-year
cycles
that
we
got
so
used
to
in
the
Bitcoin
space
where
there
was
a
bull
market
peak
in
2013,
2017,
2021,
followed
by
the
price
Corey Klippsten (CEO and Founder)
00:53.520
never
actually
reaching
that
level
the
following
year.
So
there
was
never
a
time
in
2014
where
the
price
surpassed
that
high
2013.
Same
thing
for
18
versus
17,
same
thing
for
22
versus
21
with
the
FTX
collapse
and
all
of
that.
And
I
think
because
we
didn't
see
this
astronomical
Corey Klippsten (CEO and Founder)
01:09.920
price
rise
in
2025
that
you
might
have
expected
if
you
still
believed
in
those
having
driven
cycles
or
liquidity
driven
cycles
or
whatever
it
was
that
was
causing
that
4-year
cycle.
Because
there
wasn't
an
astronomical
rise,
it's
hard
to
imagine
some
precipitous
fall
from
here.
Corey Klippsten (CEO and Founder)
01:27.000
It
seems
like
there's
plenty
of
institutional
money
and
government
money
on
the
bid
and
lots
of
people
buying
and
more
and
more
people
coming
in.
Adoption
in
Bitcoin
is
kind
of
a
a
a
one-way
motion.
People
don't
tend
to
get
into
Bitcoin
and
then
get
out
of
it.
They
generally
Corey Klippsten (CEO and Founder)
01:39.400
stick.
It's
just
a
matter
of
how
much
they
buy.
And
so
I
think
I
think
we
have
more
than
a
50%
chance
is
how
I
handicap
it
of
a
new
all-time
high
in
2026.
So
I
actually
do
expect
that
we'll
see
above
125k
next
year.
Brian Sullivan (Senior National Correspondent)
01:55.120
Above
125k.
Uh
this
might
be
a
little
bit
off
topic
and
by
the
way
I
love
being
a
lucky
charm
better
than
the
Grim
Reaper.
Yeah.
Right?
No.
Uh
which
is
this.
A
lot
of
these
Bitcoin
miners,
the
Cipher's
of
the
world,
Terra
Wolves,
Hut
8,
whatever
they
are,
they've
gone
more
and
Brian Sullivan (Senior National Correspondent)
02:10.280
out
to
AI
power.
They're
kind
of
They're
not
leaving
Bitcoin
mining,
but
the
focus
has
been
elsewhere.
Does
that
actually
help
or
hurt
the
Bitcoin
case
if
fewer
huge
industrial
miners
are
going
after
that
ledger?
Corey Klippsten (CEO and Founder)
02:24.920
Look,
the
Bitcoin
mining
space
is
always
so
dynamic
and
there
is
a
nice
interplay
between
between
smaller
scale
miners
and
these
larger
institutional
industrial
scale
miners.
And
yeah,
you
are
absolutely
right.
There
has
been
tremendous
stock
performance
by
the
Bitcoin
mining
Corey Klippsten (CEO and Founder)
02:39.920
stocks
that
have
leaned
into
AI
over
the
last
few
years.
And
you
see
even
some
of
the
larger
ones
like
CoreScientific
which
came
out
of
bankruptcy
famously
and
has
had
a
nice
little
run
here.
I
think
they've
just
come
out
and
said
that
they're
going
to
be
100%
HPC
by
2028
or
Corey Klippsten (CEO and Founder)
02:54.680
2029.
So
they
want
to
get
out
of
Bitcoin
mining
completely.
All
this
does
is
just
create
more
opportunities
And
remember,
just
because
hash
rate
might
fall
or
go
up
or
whatever,
it
doesn't
really
change
the
security
model
of
Bitcoin,
and
it
really
doesn't
change
anything
about
Corey Klippsten (CEO and Founder)
03:10.960
the
price.
The
the
hash
rate
and
sort
of
what
it
costs
to
mine
a
Bitcoin
is
a
lagging
indicator.
It's
something
that
actually
follows
the
price,
not
the
other
way
around.
Autoscroll