search
Homeweb3.0VanEck CEO Jan Van Eck Predicts Bitcoin Will Trade at $300,000, Says Now Is a Good Entrypoint for Ethereum

Bitcoin's upthrust frenzy has attracted global interest, with investors looking to leverage the premier asset's growing relevance.

VanEck CEO Jan Van Eck Predicts Bitcoin Will Trade at 0,000, Says Now Is a Good Entrypoint for Ethereum

Asset manager VanEck’s CEO, Jan Van Eck, has predicted that Bitcoin will eventually trade at $300,000, asserting that it is a reasonable and conservative assumption.

Bitcoin has seen a strong upthrust this year, attracting attention from around the globe. Investors are looking to capitalize on the growing relevance of the premier digital asset. As a result of its persistent break to new highs, Bitcoin is one of the most talked-about investment vehicles at the moment.

Several market experts have been discussing Bitcoin’s price outlook in the near future. For example, Fundstrat’s CIO predicted that Bitcoin will trade at six figures before the end of the year.

Van Eck CEO on Bitcoin Price

In light of the growing interest, CNBC approached leading asset manager VanEck’s CEO, Jan Van Eck, to get his thoughts on Bitcoin’s near-term price expectation.

During an interview on Friday, Van Eck speculated that Bitcoin will ultimately surge to $300,000. The CEO arrived at this “reasonable, base assumption” based on the pioneering cryptocurrency attaining half of gold’s market capitalization.

He went on to say that Bitcoin is digital gold and would at least reach half of all the precious metal’s valuation. Stressing that this was conservative, Van Eck said a Bitcoin maximalist would give a higher price outlook.

According to him, this is a base call for Bitcoin, suggesting that the asset could ultimately outperform his $300,000 speculation.

Moreover, Van Eck stated that one of Bitcoin’s biggest wins this year is the pent-up demand from both individual and institutional investors for the US spot exchange-traded funds.

The glaring traction towards Bitcoin products was seen in Thursday’s staggering single-day inflow of $1.37 billion. The CEO added that Bitcoin’s growing relevance in the just concluded elections was also a huge catalyst for the sector’s growth.

Indicating this growing traction, he mentioned Trump’s presence at the Bitcoin conference in Nashville earlier in the year and how digital assets became a talking point in the Ohio Senate race.

Van Eck Says Now is a Good Entrypoint for ETH

Van Eck briefly digressed to discuss other alternative plays to Bitcoin, mentioning assets like Coinbase’s COIN and ETH, adding that the latter is a good buy for “those who understand its business proposition.”

The VanEck CEO asserted that stablecoins will take over the global payment system and that Ethereum will benefit largely from that. He further insisted that despite recent price performance, ETH will grow extensively in the near term.

According to Van Eck, ETH has recently been a contrarian play. However, considering its potential, he stated that now is the best time to buy into the second-largest cryptocurrency by market cap.

Meanwhile, ETH crossed the $3,000 price mark on Saturday, trading at $3,037 at press time. The altcoin king has recently gained 21% in the past seven days from its woes.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

The above is the detailed content of VanEck CEO Jan Van Eck Predicts Bitcoin Will Trade at $300,000, Says Now Is a Good Entrypoint for Ethereum. For more information, please follow other related articles on the PHP Chinese website!

Statement
The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn
Senators Lummis and Scott Promise Pro-Bitcoin Legislation if Republicans Win the Majority in the Upcoming ElectionsSenators Lummis and Scott Promise Pro-Bitcoin Legislation if Republicans Win the Majority in the Upcoming ElectionsJul 27, 2024 pm 12:58 PM

Senator Cynthia Lummis took the stage to speak at the Bitcoin 2024 conference along with Senator Tim Scott, on Friday, discussing cryptocurrency and their vision for its role in the U.S. financial system.

Bitcoin (BTC) Exchange Netflow Has Just Taken to Positive Values, Here's What It MeansBitcoin (BTC) Exchange Netflow Has Just Taken to Positive Values, Here's What It MeansJul 27, 2024 am 12:07 AM

On-chain data shows the Binance exchange has received large net Bitcoin inflows during the past day, indicating that BTC's decline may extend further.

Bitcoin (BTC) – America’s Key To Economic Supremacy?Bitcoin (BTC) – America’s Key To Economic Supremacy?Jul 26, 2024 pm 09:15 PM

In the ongoing global economic and geopolitical rivalry, the United States may have a powerful new weapon – Bitcoin (BTC). That is the argument made by Sam Lyman

Hackers recover $3 million in bitcoin from software wallet locked for over a decadeHackers recover $3 million in bitcoin from software wallet locked for over a decadeJun 14, 2024 am 09:57 AM

JoeGrand-anethicalhackerandYouTuberwhoiswidelyknownforhisprojectsinvolvingcryptowallets,hassuccessfullyrecoveredalife-changingamountofbitcoin,presentlyvaluednorthof$3millionfromasoftwarewalletthathasbeenlockedformo

US Stock Market Peak Warning May Also Impact Bitcoin (BTC) MarketUS Stock Market Peak Warning May Also Impact Bitcoin (BTC) MarketJul 27, 2024 am 06:35 AM

Financial experts are warning of an impending peak in US stocks. This may also lead Bitcoin to rise. According to Arthur Budaghyan, an analyst at BCA Research, the US stock market

Bitcoin vs. Gold vs. S&P 500: Which Is the Best Investment in the Current Market?Bitcoin vs. Gold vs. S&P 500: Which Is the Best Investment in the Current Market?Jul 27, 2024 am 07:11 AM

Cryptocurrencies, commodities, and stocks are among the most popular risk assets for investment and trade, also leading finance indicators.

Bitcoin Holders Can Now Purchase European Union Citizenship, Combining Cryptocurrency and Immigration PolicyBitcoin Holders Can Now Purchase European Union Citizenship, Combining Cryptocurrency and Immigration PolicyJul 25, 2024 pm 02:53 PM

Powered by the Unbound Fund, this initiative uses Bitcoin as a key to open up Portuguese citizenship via the country's golden visa program.

Bitcoin (BTC) Witnesses “Rare” Buy Signal, Could Enjoy a Massive Rally to $130,000Bitcoin (BTC) Witnesses “Rare” Buy Signal, Could Enjoy a Massive Rally to $130,000Jul 26, 2024 am 11:26 AM

Crypto analyst Mikybull Crypto has revealed the return of a technical indicator that represents a buy signal for Bitcoin. Based on his predictions, the

Hot AI Tools

Undresser.AI Undress

Undresser.AI Undress

AI-powered app for creating realistic nude photos

AI Clothes Remover

AI Clothes Remover

Online AI tool for removing clothes from photos.

Undress AI Tool

Undress AI Tool

Undress images for free

Clothoff.io

Clothoff.io

AI clothes remover

AI Hentai Generator

AI Hentai Generator

Generate AI Hentai for free.

Hot Article

Hot Tools

EditPlus Chinese cracked version

EditPlus Chinese cracked version

Small size, syntax highlighting, does not support code prompt function

SublimeText3 Linux new version

SublimeText3 Linux new version

SublimeText3 Linux latest version

ZendStudio 13.5.1 Mac

ZendStudio 13.5.1 Mac

Powerful PHP integrated development environment

Notepad++7.3.1

Notepad++7.3.1

Easy-to-use and free code editor

SublimeText3 English version

SublimeText3 English version

Recommended: Win version, supports code prompts!