VanEck CEO Jan Van Eck Says Bitcoin Will Hit $300,000
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Jan Van Eck, CEO of leading asset manager VanEck, has predicted that Bitcoin will eventually trade at $300,000, noting it is a reasonable and conservative assertion. Bitcoin’s upthrust frenzy has attracted global interest, with investors looking to leverage the premier asset’s growing relevance. Following its persistent break to new highs, Bitcoin is one of the most talked-about investment tools at the moment. Meanwhile, speculation has peaked recently, with several market experts increasingly discussing Bitcoin’s price outlook in the near future. For instance, Fundstrat’s CIO predicted that Bitcoin would trade at six figures before the end of the year. Van Eck CEO Gives Bitcoin Price Outlook Amidst the growing interest, CNBC reached out to leading asset manager Van Eck’s CEO, Jan Van Eck, for his input on Bitcoin’s near-term price expectation. In an interview on Friday, Van Eck speculated that Bitcoin will ultimately surge to $300,000. The CEO based his “reasonable, base assumption” on the pioneering cryptocurrency attaining half of gold’s market cap. He noted that Bitcoin is digital gold and would at least reach half of all the precious metal’s valuation. Notably, Van Eck stressed that this was conservative, noting a Bitcoin maximalist would have given a more ambitious price outlook. He said it was a base call for Bitcoin, insinuating the asset could outperform his $300,000 speculation. Furthermore, Van Eck stated that one of Bitcoin’s biggest wins this year is the pent-up demand from 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, as seen in the just concluded elections, was also a huge catalyst for the sector’s growth. Concerning indicators of this growing traction, he pinpointed Trump’s presence at the Bitcoin conference in Nashville…
Filed under: News - @ November 9, 2024 2:19 pm