VanEck CEO Jan van Eck made a bold prediction for Bitcoin, stating that BTC is maturing and could eventually reach half of gold’s total market capitalization.
During a recent interview, van Eck explained that this prediction would place Bitcoin’s price around $350,000, marking a significant increase from current levels.
“I mean, Bitcoin is growing and eventually it will be half the total market cap of gold, which is about $350,000,” he said, indicating its long-term growth potential.
Van Eck, whose firm is at the forefront of crypto and gold investments, believes Bitcoin will increasingly act as a store of value similar to gold, especially as central banks begin to shift monetary policy. He noted that the Fed’s potential easing of the economy would benefit both gold and Bitcoin.
He also hinted at an even more optimistic scenario, suggesting that if central banks accepted Bitcoin as part of the global monetary system, its price could soar into the millions. However, van Eck was cautious about discussing these extreme predictions in detail.
“The super bulls think that if central banks adopt Bitcoin, it could be worth millions, but I don’t want to talk too much about that,” van Eck said, drawing attention to models that predict Bitcoin could be worth around $2.9 million.
While acknowledging that there are major uncertainties surrounding such predictions, van Eck remains confident in Bitcoin’s long-term trajectory. He also emphasized the importance of a diversified portfolio and advised investors to approach Bitcoin’s future role with faith but be aware of its inherent volatility.
*This is not investment advice.