Nansen founder and CEO Alex Svanevik says Bitcoin has left sub-$60,000 prices behind for good. "I don't think Bitcoin's gonna go back below $60,000," he said. "I think that's the past... I think forever." The call comes with Bitcoin trading around $64,765, not far above the level he says the asset will never revisit again, and well off the roughly $126,100 all-time high it set in October 2025.
Svanevik's case rests partly on Bitcoin's role as a hedge against central bank money creation, arguing that the global cycle of monetary expansion shows no sign of stopping and that Bitcoin's fixed supply keeps making it more attractive as fiat currencies are diluted. But the more distinctive part of his argument is about what the rest of the crypto industry has become: a venue for real assets, not just crypto-native speculation.
From 'Toy World' to Real Assets
Svanevik described the industry's shift from what he called the "toy world era of blockchains" to a "real-world era," pointing to tokenized stocks, on-chain S&P 500 index products, and trading activity on platforms like Hyperliquid as evidence. "Blockchains are basically giving a lot of room for non-crypto assets," he said, framing the shift as a structural change in what blockspace gets used for rather than a passing trend.
The numbers back up at least part of that claim. Tokenized real-world assets on public blockchains reached roughly $31 billion by July 2026, up more than 400% since early 2025 and spread across 167 platforms with about 960,000 individual holders. Tokenized U.S. Treasuries make up the largest slice, led by BlackRock's BUIDL fund at roughly $2.5 billion, while on-chain private credit has grown around 180% over the same period to about $3.2 billion. Ethereum still hosts the bulk of that activity, commanding roughly 65% of tokenized RWA value, with BNB Chain, Solana and Polygon picking up the rest.
Related: Bitcoin Tests a 10-Month Resistance Line That Has Held Since October
Not Everyone Is Convinced
Svanevik's floor call isn't universal. Veteran crypto investor Michael Terpin has taken the opposite view, predicting Bitcoin could fall as much as 66% from its cycle peak and drop back into the $40,000s — a scenario that would blow through the $60,000 level Svanevik considers untouchable. The split illustrates how differently market veterans are reading the same setup: one sees RWA adoption and institutional tokenization work as evidence Bitcoin has fundamentally re-rated, while the other sees a market still capable of the deep drawdowns that have followed past cycle peaks. Beyond his Nansen role, Svanevik has also publicly backed the Solana ecosystem and Robinhood Chain, which launched July 1, 2026, and has sat on the advisory board of NFT project Pudgy Penguins since August 2022 — positions that give him a stake in the broader on-chain economy continuing to expand regardless of where Bitcoin itself trades.
