Name: Bitcoin Price To Double: Here's When $200k Comes | Jason Yanowitz
Uploaded: 2026-08-27T23:00:09+00:00
Duration: 1880 s

Speakers

Jason Yanowitz — Co-Founder, Blockworks

Summary

Jason Yanowitz argues crypto is at the start of a new bull market, with Bitcoin potentially reaching $200,000 within about 18 months and a favorable setup for Bitcoin crossing $100,000 by January 2027. He highlights strong onchain activity in Solana and Hyperliquid, the revival of the debasement trade supporting gold and Bitcoin, and the rise of tokenized real-world assets. He also sees a shakeout in Bitcoin treasury companies and expects consolidation across crypto businesses.

Bitcoin is expected to cross $200,000 within roughly 18 months as a new crypto bull market begins.
The Treasury doubling long-end buybacks revived the debasement trade and supported hard assets like gold and Bitcoin.
Solana shows record onchain activity with low fees and large DEX volumes.
Hyperliquid is generating a $600 million revenue run rate and breaking into real-world asset trading.
Jason took the yes side on Kalshi for Bitcoin crossing $100,000 before January 2027.
He prefers treasury companies holding Solana or Hyperliquid over pure Bitcoin treasury companies.
Crypto is entering a consolidation phase with more public companies expected.

Ideas

Jason Yanowitz Co-Founder, Blockworks 0:00

New crypto bull market has started.

Jason says this is clearly the start of a new crypto bull market, not a head fake or short squeeze. The macro setup improved as Treasury buybacks revived the debasement trade, Washington flipped its crypto stance, ETF inflows had their biggest week in 10 months, and the onchain economy remained resilient even while Bitcoin fell. He also says AI investors are looking for the next asset class and crypto is the natural next step.

Jason Yanowitz Co-Founder, Blockworks 0:02

Bitcoin crosses $200k in 18 months.

Jason expects Bitcoin to cross $200,000 within roughly the next 18 months. He believes this is not a fakeout but a new bull market driven by an improved macro setup, revived debasement trade, more constructive Washington regulation, strong ETF inflows, and a resilient onchain economy.

Jason Yanowitz Co-Founder, Blockworks 3:58

Solana onchain growth supports continued outperformance.

Jason highlights Solana's record onchain activity: about $4.2 billion in non-vote transactions monthly, 24 million trades per day, 860,000 trader addresses, spot DEX volume of $3.3 billion per day, and median fees near zero. He says there is a lot of capital in Solana, and assets like Solana should do well on the treasury company side.

Jason Yanowitz Co-Founder, Blockworks 4:06

Hyperliquid monetizes on-chain real-world trading.

Jason argues Hyperliquid is the first crypto venue to break out into mainstream markets. It generated $154 million in Q1 revenue and $148 million in Q2, a $600 million run rate, with only about 13 employees. Its perp futures volume reached about $9.6 billion in a day, with 29% in real-world assets such as equities, indices, commodities, FX, pre-IPO, and bonds. He sees it as one of the better assets in crypto.

Jason Yanowitz Co-Founder, Blockworks 13:43

Gold rallies on renewed debasement trade.

Jason says the August 19 Treasury decision to double long-end buybacks signaled less willingness to let long-term rates clear higher, reviving the debasement trade. That pressure went into the dollar and then into hard assets, so gold should rally, with Bitcoin acting as a higher-beta gold trade.

Jason Yanowitz Co-Founder, Blockworks 20:35

Bitcoin crossing $100K before January 2027.

Jason says he took the yes side on the Kalshi contract for Bitcoin crossing $100,000 before January 2027 when the probability was around 18-19%. At 29%, he still thinks it is priced a little too low and sees a roughly 30-40% chance of Bitcoin crossing $100K during 2026.

Jason Yanowitz Co-Founder, Blockworks 23:26

Tokenized assets and venues will outperform.

Jason says finance is becoming crypto: dollars are becoming stablecoins, stocks are becoming tokens, exchanges are becoming protocols, and Nasdaq is moving to 24/7 onchain trading. He believes every stock, bond, currency, and commodity will eventually have an onchain version, and the venues and data providers powering those markets will do extremely well.

Bitcoin Price To Double: Here's When $200k Comes | Jason Yanowitz

Summary

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