Bitcoin CEO: BTC is Unique and Will Reach New All-Time High
Jan van Eck, the CEO of VanEck, a global financial company, believes that Bitcoin (BTC) is an asset that cannot be replicated or surpassed. He dismisses claims that it is a bubble and predicts that there will be a new all-time high in the next 12 months.
New ATH by Dec 2024?
Van Eck became interested in Bitcoin due to its similarities with gold. His company filed for a spot Bitcoin ETF in 2017, making them the first established ETF player to do so. Despite rejections and delays by the US Securities and Exchange Commission, VanEck continues to pursue ETF approval and recently changed the ticker for its proposal to HODL.
Van Eck notes that gold and Bitcoin tend to move together and have similar macro factors influencing their performance. He believes that the upcoming halving and potential ETF approval could drive BTC’s price higher, leading to a new all-time high above $69,000 within the next year.
Not a Bubble
Despite Bitcoin’s price volatility, Van Eck rejects the notion that it is a bubble. He argues that no asset that has been labeled a bubble has ever outperformed itself, which Bitcoin has done multiple times.
Furthermore, Van Eck does not foresee any other asset surpassing Bitcoin as an “internet store of value” in the future.
Addressing Criticism
In response to criticism from Jamie Dimon, CEO of JPMorgan, and other bankers regarding Bitcoin’s use in criminal activities, Van Eck points out that many financial institutions have also been associated with criminals in some form. He suggests refraining from casting stones if associated with such institutions.
Hot Take: Bitcoin’s Unique Nature and Future Potential
Jan van Eck, CEO of VanEck, believes that Bitcoin is an exceptional asset with unmatched qualities. He anticipates a new all-time high for BTC in the coming year, dismissing claims that it is a bubble. Van Eck sees no other asset surpassing Bitcoin as an “internet store of value.” Despite criticism from banking figures, he highlights the association of financial institutions with criminal activities.
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