The CEO of VanEck Believes Bitcoin Will Remain the Leading Store of Value
The CEO of investment management firm VanEck, Jan van Eck, believes that Bitcoin will continue to be the leading store of value on the internet. In an interview with CNBC, van Eck stated that he couldn’t imagine any other internet store of value surpassing Bitcoin due to its network effects and 50 million users. He also dismissed claims that Bitcoin is in a bubble, noting that it continues to outperform itself in every market cycle.
Bitcoin Expected to Reach All-Time Highs
Van Eck also expressed his expectation that Bitcoin will reach all-time highs within the next 12 months. This sentiment aligns with his belief that Bitcoin is a growing asset with significant potential.
VanEck’s Store of Value Investing History
Van Eck shared that both he and his late father, John van Eck, who founded VanEck in 1955, have a history of investing in store of value assets. He sees Bitcoin becoming an accompaniment to gold, which is consistent with the firm’s launch of the first gold fund in the US under his father’s leadership in 1968.
Vying for Spot Bitcoin ETF Approval
VanEck is one of 13 applicants seeking approval for a spot Bitcoin exchange-traded fund (ETF) in the US. The CEO anticipates that all spot Bitcoin ETF applications will be approved on the same day. The Securities and Exchange Commission is expected to issue a decision on several pending applications between January 5th and 10th.
Hot Take: VanEck CEO Optimistic About Bitcoin’s Future
In summary, VanEck’s CEO is optimistic about the future of Bitcoin, asserting that it will remain the leading store of value on the internet. He expects Bitcoin to reach all-time highs in the coming year and believes it is a growing asset with significant potential. Additionally, VanEck is actively pursuing approval for a spot Bitcoin ETF and anticipates a positive outcome for all applicants.
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