Galaxy Research (Galaxy Digital) organization
Overview
Galaxy Research is the research arm of Galaxy Digital, the digital asset financial services firm, led by Alex Thorn as Head of Firmwide Research since January 2021. It publishes analysis on Bitcoin and the broader digital asset market, covering market structure, macro dynamics, protocol developments and policy. Recurring outputs include annual prediction pieces — for example 'Crypto, Bitcoin, DeFi, and AI Predictions for 2026', published in December 2025 — alongside standalone reports on subjects such as US crypto market structure legislation and its potential price impact, Tether's scale and profitability, and the quantum computing threat to Bitcoin and post-quantum cryptography. Its December 2025 analysis argued that overlapping macroeconomic and market risks make Bitcoin unusually difficult to forecast, and that options pricing and volatility trends indicate Bitcoin is maturing into a more macro-like asset rather than a high-growth trade. Thorn also hosts Galaxy Brains, a podcast covering trends and events across the crypto ecosystem. Note the parent firm should not be confused with Galaxy Digital the defunct UK radio station of the same name. Alex Thorn joined as Head of Firmwide Research in January 2021 and has built Galaxy Research into a regularly cited source on Bitcoin market structure and policy, with an annual predictions series and the Galaxy Brains podcast.
Within the DeFi Intel graph, Galaxy Research (Galaxy Digital) connects to 7 tracked entities, most strongly to Alex Thorn, Galaxy Digital, Galaxy Research 2024 Annual Bitcoin Mining Report.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 7 of 7 total).
| Relation | Connected entity | Confidence |
|---|---|---|
employs | Alex Thorn | 99% |
employs | Galaxy Digital | 98% |
published_by | Galaxy Research 2024 Annual Bitcoin Mining Report | 96% |
published_by | Galaxy Research Crypto Predictions for 2025 | 94% |
published_by | Galaxy Research: 26 Crypto Market Predictions for 2026 | 94% |
employs | Christine Kim | 88% |
published_by | Galaxy Research: Bitcoin ETF Impact Report (2024) | 87% |
Frequently asked questions
Who runs Galaxy Research?
Alex Thorn, Head of Firmwide Research at Galaxy Digital since January 2021.
What does Galaxy Research publish?
Reports on Bitcoin and digital asset markets, including annual predictions, market structure analysis and policy research.
What is Galaxy Brains?
A podcast hosted by Alex Thorn covering trends and events across the crypto ecosystem.
What was Galaxy's 2026 Bitcoin view?
Its December 2025 analysis said overlapping macro and market risks make Bitcoin hard to forecast, with volatility trends suggesting it is maturing into a more macro-like asset.
What topics has Galaxy Research covered recently?
US crypto market structure legislation, Tether's scale and profitability, and quantum computing threats to Bitcoin with post-quantum cryptography.
Sources
Facts on this page were verified against the following sources.