The Pokémon market has been booming for more than a year - an unprecedented run.
Despite that, more than 12 months in, interest is spiking again: Google Trends data still shows all-time-high search volume for pokemon card!
Google Trends search data for the “pokemon card” keyword showing the past 3 boom phases, and the surprising growth more than 1 year after the 2024 boom started.
That spike coincides with the emergence of a new narrative: Pokémon cards are a legitimate alternative investment asset, and one with serious long-term potential.
Before we get into it, I’m going going live on YouTube tomorrow, March 11th, at 7:30 pm EDT to discuss this topic in-depth and answer questions. Click below to turn on notifications so you don’t miss it:
As a reader of this newsletter, Pokémon as an investment with long-term potential is not news to you. What is new is who's saying it.
People like A.J. Scaramucci, who purchased Logan Paul's $16.5 million Illustrator Pikachu and is the son of financier Anthony Scaramucci. Or the Shark Tank entrepreneur Kevin O'Leary, who picked up a 1-of-1 Michael Jordan and Kobe Bryant logoman card and has been publicly making the case for collectibles as an emerging asset class.
These aren't your traditional hobbyists. They're institutional voices bringing institutional capital - and institutional credibility - to a market that, until recently, most serious investors dismissed.
And that changes things.
For Pokémon, this influx of new, wealthy participants is arriving at a uniquely awkward moment: The Pokémon Company International appears structurally unable to scale printing to meet existing demand, let alone the wave of demand that financialization could bring.
The result is a market where supply constraints are amplifying the very narrative that's driving demand. High prices attract attention. Attention attracts new buyers. New buyers drive prices higher. And the cycle feeds itself.
I've consistently argued that the traditional Collectibles Cycle will eventually reassert itself: that a wave of new supply will trigger the correction phase and bring prices back to a new foundation. I still believe that's the most likely outcome.
But I'm less certain of the timing.
The financialization of collectibles - the growing consensus that Pokémon cards, and other collectibles, belong in the same conversation as fine art, sports memorabilia, and other alternative assets - has the potential to bring a scale of capital into this market that no print run can offset.
If demand from the wealthy, institutional class of buyer continues to grow, even as supply eventually increases, the traditional correction phase may be shallower, shorter, or delayed beyond anything the previous cycles suggested.
I don't know what this market looks like in 2027. But for the first time, I'm genuinely uncertain whether the historical playbook still applies.
As a collector or investor in 2026, this creates a genuine tension.
On one hand, the financialization narrative suggests the boom could continue well beyond what any traditional cycle analysis would predict. On the other, that narrative is itself a product of rising prices, and narratives built on price momentum are historically the most fragile. If it breaks, the correction won’t be gentle.
Based on the Collectibles Cycle Investing strategy I’ve built this newsletter around (buy when boring, and sell into hype) 2026 remains a time to lock in gains, not accumulate.
That means I plan to sell strategically into this strong market.
That’s not a comfortable position to hold. If the financialization narrative continues to grow, and if institutional demand proves strong enough to absorb even a major supply increase, the upside I’m leaving on the table could sting.
But I’ve made peace with that. I’d rather sell too early than get caught when the market turns. I’m reminded of the advice from the investor Anthony Pompliano who manages an investment portfolio of more than $500 million:
“The goal isn’t to time the top of a market for an asset and get the maximum possible profit every time. The goal is to capture a return. And you have to sell to get the return. Remember, all my rich friends sold too early. Join the rich friends.”
(You can find this quote, and the full framework behind it, in my Ultimate Guide to Collectibles Cycle Investing - subscribe here if you haven’t already to receive it!)
The history of collectibles markets are clear: every boom phase is eventually followed by a correction. The euphoria we’re feeling right now, that Pokémon has crossed into a new era of institutional legitimacy, is itself a warning sign.
So I’m standing by the Collectibles Cycle. I’ll keep selling into the strength, locking in returns, and preparing for the new foundation that follows.
It’s a strange and exhilarating time. But its not time to lose sight of the strategy.
As usual,
Thanks so much for reading the TCG Buyers Club newsletter. My name’s Grey, I buy cardboard, and I’m on a mission to make collecting and investing in Pokémon simple.
Cheers 🍻
P.S. Don’t forget to set your reminder for the livestream! This is a deep topic, and I’m excited to dig into it with all of you tomorrow, March 11th at 7:30 pm EDT. See you then!