Charles Schwab CEO Rick Wurster outlined a forecast in an interview suggesting that by 2026, the macroeconomic environment could become more favorable for Bitcoin. He links this outlook to Federal Reserve actions and the state of the U.S. Treasury bond market. The forecast is based on three interconnected factors: a possible resumption of quantitative easing, Fed bond purchases, and weakening demand for Treasuries.
Charles Schwab CEO's 2026 Forecast
Wurster emphasizes that his perspective is grounded in macro-political trends rather than speculative expectations. He directly connects the potential strength of the crypto market to Federal Reserve policies and bond market yield dynamics. The three key mechanisms he highlights form a logical framework: increased liquidity through QE, Fed activity in the bond market, and declining traditional demand for U.S. government debt.
The Impact of Quantitative Easing on Digital Assets
Quantitative easing is a large-scale purchase of government bonds and other assets by a central bank to inject money into the economy. This increases the money supply and lowers interest rates, altering the value of traditional assets and maintaining market liquidity. Wurster notes that in past periods, large bond purchases and monetary base expansion coincided with heightened investor interest in Bitcoin as a scarce asset.
The Federal Reserve's Role in Shaping the Crypto Market
The Federal Reserve uses tools such as bond market operations and interest rate management to fulfill its dual mandate—maximum employment and price stability. When the Fed buys bonds, it directly increases liquidity and can lower yields on safe assets. Under such conditions, investors may seek alternatives, including digital assets, and Wurster believes these mechanisms make Bitcoin sensitive to fiscal and monetary shifts.
U.S. Treasury Demand and Its Influence on Bitcoin
Weakening demand for Treasury bonds changes government financing conditions and affects the yields required by debt buyers. Wurster points out that with low demand, the Fed may act as an active buyer, effectively increasing monetary support for the economy. In such scenarios, assets with fixed supply, like Bitcoin, may attract additional capital as an alternative.
Why This Matters
If this chain of events unfolds, it could impact Bitcoin’s price and, consequently, mining profitability even without direct changes to network difficulty. For a miner in Russia with a small equipment fleet, such changes reflect through fiat revenue and BTC reserves valuation. It’s important to note that Charles Schwab does not offer direct cryptocurrency trading but provides access to products like spot ETFs, reflecting the gradual integration of crypto assets into traditional channels.
What to Do?
Miners with 1–1000 devices should focus on risk management and monitoring the macroeconomic indicators mentioned by Wurster. Below are practical steps to apply amid increased volatility and liquidity changes.
- Track Federal Reserve balance sheet movements and QE news to anticipate liquidity surges.
- Plan for currency and tax risks: during rising volatility, secure part of your revenue in stable currencies or through trusted financial instruments.
- Diversify revenue storage: hold some funds in BTC and some in fiat, based on operational expenses and reserves for unexpected outages.
- Explore Bitcoin-related products available on your platform—such as spot ETFs—if accessible through brokers, including Charles Schwab.
- Maintain equipment efficiency and monitor electricity costs to stay profitable amid short-term price fluctuations.
For a comprehensive understanding of different 2026 outlooks, it’s useful to compare views from other market participants, such as Mike Novogratz’s opinion and broader materials on risks and perspectives. These resources help evaluate alternative scenarios and adjust operational decisions accordingly.