This year, $Bitcoin (BTC.CC)$ has greatly disappointed investors, underperforming significantly compared to precious metals like gold and the Nasdaq 100 Index, which is dominated by technology stocks.
However, some optimists believe that Bitcoin could potentially become the "best-performing asset of the year" next year, partly because they expect it to benefit from fiat currency depreciation.
David Schassler, Head of Multi-Asset Solutions at investment management firm VanEck, noted that the largest cryptocurrency may be preparing for a significant rebound next year.
Schassler wrote in the company’s recently released 2026 outlook, "Year-to-date, Bitcoin has underperformed the Nasdaq 100 Index by approximately 50%, and this disconnect positions it to potentially become the best-performing asset in 2026."
Although Bitcoin’s weakness this year reflects reduced risk appetite and liquidity constraints, Schassler wrote that the fundamental thesis for Bitcoin remains intact, stating, "As currency devaluation intensifies and liquidity returns, Bitcoin typically experiences significant price increases." He added, "We have been buying."
Schassler’s arguments mainly focus on the powerful combination of currency devaluation, technological transformation, and the rise of hard assets. This asset manager believes that policymakers will increasingly rely on printing money to fund future debt and political ambitions, which will drive investors toward scarce stores of value such as gold and Bitcoin.
He also forecasts that gold prices will surge to $5,000 per ounce next year, representing an increase of over 10% from current levels. He stated, "Gold has been one of the strongest-performing major assets this year, and we expect this momentum to continue."
Year-to-date, gold prices have risen more than 70% and currently exceed $4,500 per ounce.
Meanwhile, a quietly emerging bull market in commodities is unfolding, driven by infrastructure demands for artificial intelligence, energy transition, robotics, and reindustrialization. As Schassler previously noted, these "old-world assets" are laying the foundation for the new global economy.
Editor/Doris