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In a market debating whether Bitcoin's bottom is $60,000 or $55,000, one European treasury executive is asking a very different question: what if the next cycle's floor sits in the high six figures? Alexandre Laizet, board director at Capital B — one of Europe's leading Bitcoin treasury companies — argues that Bitcoin's future price floors could climb toward $300,000, $800,000, and eventually $1 million over the next four to eight years, driven by a structural force he says most investors are still underestimating: digital credit.
The Digital Credit Thesis
Digital credit refers to a new category of Bitcoin-backed listed instruments — securities that convert Bitcoin's raw volatility into packaged income products mainstream investors and Wall Street can hold. Laizet's pitch rests on a demand-supply arithmetic he says is already operating: market demand for Bitcoin is running at roughly three times the natural pace of new mining supply, and digital credit products widen the buyer pool dramatically by offering double-digit returns with volatility below 5–10%.
His comparison is aimed straight at traditional portfolios: if the S&P 500 delivers 10–15% performance with 10–15% volatility, an instrument offering similar upside with a fraction of the swings competes for the same allocation — putting the addressable market on the scale of equity indices and real estate rather than the crypto niche. The category is no longer theoretical. Strategy, the largest corporate Bitcoin holder, formalized a Digital Credit Capital Framework in late June around its yield-bearing preferred instruments, one of which now pays a 12% dividend, and Laizet notes the firm has continued accumulating aggressively — adding, by his count, over 200,000 BTC in a matter of months this year as part of a broader institutional wave.
The Ladder of Higher Lows
The forecast's foundation is Bitcoin's most durable chart pattern: each cycle's bear-market bottom lands far above the last. The floor climbed from roughly $200, to $3,000–$4,000, to about $15,000 in 2022 — and Laizet places the current cycle's floor formation near $50,000–$60,000, a zone the market has been stress-testing all summer as Bitcoin trades in the low $60,000s after June's dip toward $57,000. Extend the ladder at its historical slope, he argues, and floors of $300,000 and beyond stop looking outlandish and start looking like the trend line.
To his credit, Laizet wrapped the projection in unusual epistemic humility for a Bitcoin bull, stressing that the exercise is pattern recognition rather than science, that it relies entirely on past performance, and that nobody holds a crystal ball.
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The Bear Case He Doesn't Dodge
Laizet also volunteered the honest worst case: Bitcoin falls 80% and then goes nowhere for a decade — a scenario every holder implicitly underwrites. The near-term tape gives the caution some teeth. Cycle analysts including Benjamin Cowen see a final bottom potentially forming this autumn, 10x Research has floated $55,000 as a downside target, and Strategy's own digital-credit flagship trades below its par value while JPMorgan warns the model injects two-way risk by making a structural buyer a potential seller. The digital credit machine, in other words, raises the floor only so long as the obligations stacked on top of the Bitcoin collateral stay serviceable.
Capital B Puts Money Behind the Math
The conviction is not rhetorical. Capital B is targeting 210,000 BTC — a full 1% of Bitcoin's total supply — by 2033, and recently raised €15 million with capacity for up to €99 million more, funds Laizet says are being channeled directly into digital credit products. The company is effectively running the European version of the playbook Strategy built in the US: issue securities against a growing Bitcoin treasury and let the appreciation service the paper.
The Bottom Line
Laizet's numbers are provocative, but the mechanism behind them deserves the attention: digital credit is genuinely expanding who can own Bitcoin exposure, converting a volatile bearer asset into portfolio-grade income products with trillion-dollar addressable markets. If that channel keeps compounding, the higher-lows ladder gets a structural engine it never had in retail-driven cycles — and $800,000 floors become an arithmetic extrapolation rather than a meme. If it falters, as this year's stress at Strategy shows it can, the same leverage cuts the other way. Either outcome will be decided not by predictions but by whether the collateral keeps outrunning the coupons.
Data referenced from Coinpedia/TradingView, Capital B statements, Strategy disclosures, and prior verified market reporting as of July 9, 2026. Forward-looking projections are the cited speaker's opinions, not forecasts by this publication. This article is for informational purposes only and is not financial advice — always do your own research.
