Grayscale shakes up certainties. In its latest report, the asset manager anticipates a new ATH for bitcoin by June 2026, breaking with the traditional four-year cycle. Against a backdrop of rising public debt, inflationary pressure, and a changing regulatory framework in the United States, this projection relies on clear macroeconomic signals. At a time when trust in fiat currencies is eroding, Grayscale sees bitcoin as a safe haven asset undergoing a structural transformation. Such a vision challenges and redefines market benchmarks.