No Bear Market in Sight? Bitcoin’s Bull Run May Stretch for Years

Bitcoin is entering a multi-year bull phase, David Bailey asserts, driven by surging institutional demand, shrinking supply, and a tidal wave of untapped capital set to follow.

No Crypto Winter in Sight? Bailey Sees Bitcoin in Multi-Year Bull Mode With Firepower

Growing optimism around bitcoin’s long-term trajectory has intensified as advocates highlight rising institutional interest and structural supply constraints. David Bailey, an advisor to President Donald Trump on bitcoin policy and chief executive of $BTC Inc.—the parent company of Bitcoin Magazine and organizer of the Bitcoin Conference—asserted on social media platform X on Aug. 23 that the crypto asset is entering a new phase of adoption. Bailey, who also founded Nakamoto Holdings, which recently purchased 5,764.91 $BTC for its corporate treasury, stated:

There’s not going to be another bitcoin bear market for several years. Every sovereign, bank, insurer, corporate, pension, and more will own bitcoin.

“The process has already begun in earnest, yet we haven’t even captured 0.01% of the TAM. We’re going so much higher. Dream big,” he added.

He stressed that the present cycle marks a turning point, stating in another X post: “This is the first time we’ve ever seen real institutional buy in.” Bailey described the trend as “the Eternal September of institutional bitcoin adoption,” emphasizing that less than 1% of institutions hold bitcoin and, among those that do, allocations remain under 1%. He argued that “99.99% of demand is ahead of us,” while pointing to the less than $1 trillion in available liquidity as a key constraint in meeting potential institutional inflows.

Advocates maintain that limited supply and growing institutional exposure provide a foundation for sustained upside, while critics caution that volatility, regulatory pressures, and macroeconomic uncertainties remain risks. Supporters counter that even small allocations across sovereign funds, banks, and pensions could significantly alter market dynamics, pushing valuations far higher.

Last week, Coinbase CEO Brian Armstrong shared his prediction that bitcoin could reach $1 million by 2030, citing increasing institutional allocations and improving regulatory clarity as key drivers. He pointed out that many major institutions currently allocate only 1% of their portfolios to bitcoin, but he expects this figure could rise significantly as confidence builds. Armstrong attributed the bullish outlook to momentum from crypto ETFs, government adoption—including the U.S. holding bitcoin reserves—and diminishing concerns around regulation.