What Bitcoin Did Bitcoin’s Next Rally Could Break the Cycle | Eric Yakes
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Oct 15, 2026 
Eric Yakes, Bitcoin investor, author of The 7th Property, and venture capitalist, explores whether institutional demand is breaking Bitcoin’s four-year cycle. They discuss Bitcoin’s competing identities, fiscal debasement, potential asset-manager and nation-state adoption, and why greater liquidity matters. The conversation also examines Zcash, AI’s impact on digital scarcity, and Bitcoin’s biggest software and security risks.
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Institutional Buyers Are Breaking The Four-Year Cycle
- Institutional adoption may be weakening Bitcoin’s four-year cycle by creating a persistent passive bid.
- The asset rose less during the boom and fell less during the downturn, suggesting market structure is replacing a self-fulfilling pattern.
Bitcoin’s Many Narratives Attract Different Capital
- Bitcoin attracts distinct buyer groups, including Wall Street, payments-focused technologists, freedom advocates, and passive allocators.
- Narratives become market-dominant when they persuade large pools of capital, not merely when they win online arguments.
Choose Bitcoin Allocation For Your Circumstances
- Treat Bitcoin allocation as personal rather than universally prescriptive, because age, risk tolerance, and circumstances matter.
- Eric Yakes says he often encourages family offices to consider roughly a 10% allocation.