SwissBorg Founder Predicts Biggest Crypto Altcoin Cycle ‘Of Our Lifetime’
SwissBorg founding associate Alex Fazel believes the market is getting into a multi-year, structurally totally different bull section that might ship “generational wealth,” laying out what he referred to as an “alt season bible” for 2025–2026 in a wide-ranging interview with Altcoin Daily.
Speaking in a probabilistic framework, Fazel argued that the confluence of a strengthening enterprise cycle, simpler financial coverage, and twin expertise booms in crypto/Web3 and synthetic intelligence creates the identical type of tailwinds that powered the post-dot-com “restoration cycle” in equities. “I actually need to show to everybody that that is the largest cycle and the largest probability for everybody to generate generational wealth,” he stated, including that his views are expressed in chances slightly than certainties.
The 2025–26 Crypto Altcoin Cycle Will Be Historic
Fazel’s market construction thesis facilities on a well-recognized rotation: Bitcoin main, followed by Ethereum and the top-cap cohort, after which a broader dispersion into mid- and small-caps as Bitcoin dominance rolls over. He insisted that the present advance lacks the hallmark “euphoria stage”—a late-cycle situation he considers statistically widespread and, due to this fact, nonetheless forward. “It is extraordinarily uncommon… to have a bull cycle with out euphoria,” he stated, noting that sizable drawdowns will punctuate the development with out invalidating it. “We gained’t see an extended bear market anymore… We’re going to see a really prolonged bull run however with actually massive corrections alongside the best way.”
To gauge cycle magnitude, Fazel prefers whole crypto market capitalization over date-calling. He mapped prior expansions—roughly 45x from 2014 to 2017 and ~27x into 2021—right into a conservative inference {that a} 2x–3x from the final cycle’s ~$3 trillion prime would suggest a $6–$9 trillion whole capitalization earlier than this run is exhausted. That—together with a still-missing euphoria section—types one in every of his main exit heuristics. “Rather than simply occupied with how lengthy, take a look at how high,” he stated.
On sector management, Fazel’s crew compiled a year-over-year basket (September 2024 to early September 2025) of tokens that outperformed Bitcoin on sustained timeframes to filter out “pump-and-dump noise.” The listing he highlighted was dominated by DeFi and exchange-adjacent belongings: Virtuals (AI-agent) with a 20x,Hyperliquid’s HYPE 7x, Sui and its DeepBook DEX as robust performers, Curve and Ethena Labs 2.5x–3x, SwissBorg’s BORG ~2.5x, and Raydium. His conclusion was blunt: “DeFi is the most effective sector to spend money on,” with alternate tokens repeatedly among the many most resilient leaders since 2018 on account of clear product-market slot in hypothesis and charge era.
Fazel stitched these returns to an specific capital-flows mechanism: buybacks. He confirmed a constructive correlation, in his view, between prime token performers and sustained buyback packages, and drew a parallel to equities the place most of the cycle’s strongest shares—together with AI bellwethers—have introduced massive, persevering with repurchases. He cautioned, nevertheless, that buybacks might be overwhelmed by emissions. “If you may have $20 million shopping for the token, however an airdrop is emitting $53 million, do the mathematics,” he stated, citing this dynamic to clarify why some well-known tokens underperformed regardless of income.
What Else To Look For On Altcoins
From there, he proposed a easy four-quadrant framework for token “pumpamentals”: clear utility that traders understand as invaluable; loyalty by way of locking; robust, sustainable, and scalable buybacks; and burns or different mechanisms that cut back float. Layer-1s, he argued, usually tick solely the primary two containers and nonetheless depend on inflationary issuance for staking yields. By distinction, alternate tokens and a few DeFi belongings can test all 4—significantly if fee-linked buybacks are hard-wired, ongoing, and diversified throughout product strains.
Fazel additionally outlined an more and more outstanding purchaser cohort of digital asset treasuries (DATs)—public firms that elevate in fiat and accumulate crypto for his or her stability sheets—observing that this construction can “pump the inventory and the token.” He pointed to high-profile examples in Bitcoin and Ethereum, stressing that balance-sheet accumulation concurrently provides purchase stress and removes promote stress. More broadly, he framed right now’s market as a “supercycle” second as a result of retail, establishments, and company treasuries at the moment are converging on crypto publicity—initially in BTC and ETH, however progressively additional out the danger curve as confidence grows.
Much of Fazel’s playbook is operational at SwissBorg itself. He disclosed that the corporate, based in 2017 and now at “300+ staff” and “$2.4 billion” in belongings beneath administration, has shifted to a 50% revenue-to-buyback coverage for its BORG token and deliberately delisted from centralized exchanges to “management provide” and focus liquidity and quantity in-app.
Fazel repeatedly returned to threat administration, urging traders to suppose in chances and to be keen to “divorce” underperforming tokens that lack actual revenues or sound token economics. He additionally addressed dilution fears sparked by the proliferation of recent tokens, contending that just about none attain significant dimension. “Out of all these cash… 0.00001% have a market cap above $1 million,” he stated, arguing that the sheer variety of microcap launches shouldn’t preclude an altseason in bigger, revenue-generating names.
His timeline stays conditional, however his conviction within the construction is obvious. He expects Bitcoin might undergo 30%–40% pullbacks with out derailing an extended advance, believes the fairness backdrop continues to be “AI-led” slightly than in a blow-off, and contends crypto adoption curves transfer quicker than Web2 as a result of they construct atop the present web. As for a headline Bitcoin goal, he demurred on specifics, however hinted the ceiling is greater than informal forecasts suggest. “Almost $200k for Bitcoin appears too small,” he stated at one level, earlier than pivoting again to total-market metrics and the presence—or not—of broad-based euphoria.
At press time, the full crypto market cap stood at $4.2 trillion.