VanEck CEO Predicts Bitcoin Price Could Hit $300,000
- Susan SarandonOriginal
- 2024-11-09 09:50:16766browse
Jan Van Eck, VanEck CEO, recently shared a bold prediction, suggesting Bitcoin's value could rise to around $300,000.
VanEck CEO Jan Van Eck has predicted that Bitcoin (CRYPTO: BTC) could reach $300,000 in value. In an interview with CNBC, Van Eck said that this estimate is based on the assumption that Bitcoin could eventually achieve a market cap equal to half of all the gold currently in circulation.
“I think a reasonable, base assumption for it’s potential as digital gold would be that it could get to half the market capitalization of gold, which would put it around $300,000 per coin,” Van Eck said.
He added that BTC, which recently reached its all-time high (ATH) of $77,000, has seen much more significant gains this year, partly driven by the interest of individual investors.
“We’ve seen a lot more gains from Bitcoin, and it’s had a huge year to date. It’s really gotten into the consciousness of the individual investor,” Van Eck said.
As Bitcoin ETF approval becomes a hot topic in the US, Van Eck, whose firm is awaiting approval for a Bitcoin ETF, highlighted the critical role that Bitcoin ETFs have played in the US financial landscape this year.
“The interesting thing about Bitcoin ETFs is that they’ve become a substantial part of the US financial markets story this year. They’re a huge story, and they’re not even here yet,” Van Eck added.
According to Van Eck, these ETFs have become so popular that they are now even a political talking point in Ohio’s Senate race and the appearance of Trump at a Bitcoin convention. He now hopes this popularity brings bipartisan support in the US, further cementing BTC as an asset class worthy of continued growth.
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