Bitcoin 'Tokenization Supercycle' Could Boost BTC, MSTR, and IREN in 2026

Summary:
Investment firm Bernstein predicts a significant "tokenization supercycle" in 2026, which may elevate Bitcoin and related stocks, including MicroStrategy and IREN. Analyst Gautam Chhugani foresees increasing activity in the cryptocurrency space, suggesting Bitcoin could reach higher price levels by 2027.

Key Takeaways

Bernstein projects a "tokenization supercycle" for 2026 with Bitcoin and several crypto stocks likely to benefit.
Analyst Gautam Chhugani forecasts Bitcoin reaching elevated targets by 2027, despite a weaker finish in 2025.
Companies highlighted for their potential in this supercycle include Robinhood, Coinbase, Figure, Circle, and IREN.
Analysts maintain a positive outlook on MicroStrategy's stock due to its substantial Bitcoin reserves.

Bernstein flags crypto stocks for 2026 tokenization supercycle.

Bernstein Analysts Believe a 'Tokenization Supercycle' is Near

Bernstein is forecasting a "tokenization supercycle" in 2026, driven by an increase in stablecoin supply fueled by rising activity within the cryptocurrency sector, cross-border payments, and the growing adoption of cryptocurrencies by key fintech companies like Block, Revolut, and PayPal.

On the trading front, data from Deribit, a derivatives exchange owned by Coinbase, indicates that traders are placing increasing bets on Bitcoin reaching notable price milestones by the end of January. Additionally, the prediction market Polymarket has assigned probabilities for Bitcoin achieving higher price targets before the year concludes.

MicroStrategy, known for its significant Bitcoin reserves, is currently trading below its historical premium levels. Analysts have expressed a buy consensus for the stock, with price targets suggesting potential for growth. The company has recently increased its preferred dividend and is continuing to expand its Bitcoin holdings, as outlined in its latest disclosures.

Circle Internet Group, a major player in the stablecoin market with its USDC and EURC products, has experienced a decline over the past three months but remains slightly positive for the year. Its shares are trading below what analysts consider to be fair value based on narrative expectations.

Robinhood, a U.S. trading platform that offers a variety of financial products including stocks, ETFs, options, gold, and cryptocurrencies through its Robinhood Crypto platform, has launched several innovative tools. These include Cortex, an AI assistant for custom indicators and market analysis, and Legend, which provides advanced features such as futures trading and enhanced access to index options.

Robinhood Social allows users to create verified trading profiles, share trading strategies, and track portfolios, with plans for a copy trading feature in the future. The platform has also ventured into banking services, providing mortgage offerings and a Gold credit card. The integration of AI-driven tools and sophisticated trading features has greatly enhanced user engagement and retention, according to company reports.