VanEck CEO Predicts Bitcoin Price to Reach All-Time High in 2024
Jan van Eck, the CEO of global investment managing firm VanEck, shared his outlook for Bitcoin and cryptocurrency during an interview with CNBC. He predicted that Bitcoin would reach a new all-time high price within the next 12 months. Van Eck also discussed the initial application of a Bitcoin exchange-traded fund (ETF) filed by VanEck and the pending decisions on spot Bitcoin ETFs.
Similarity Between Gold and Bitcoin Performance
Van Eck acknowledged the similarities in performance between gold and Bitcoin. He noted that both assets peaked in 2021 and have been rallying this year, with Bitcoin outperforming gold. According to Van Eck, the macro factors supporting both assets are strong, as they are considered stores of value that are not affected by interest rates.
Predictions for Continued Growth
When asked if Bitcoin has already reached its peak and is now stagnant, Van Eck disagreed and stated that Bitcoin has never been a bubble. He believes that it will continue to grow and expects it to reach all-time highs in the next 12 months.
Bitcoin ETF Filings and Applications
VanEck was one of the first firms to file for spot Bitcoin ETFs. Van Eck expressed his belief that instead of approving applications one by one, the Securities and Exchange Commission (SEC) will approve multiple applications simultaneously. This approach aligns with what happened with Ethereum futures when the SEC decided to put everything on hold until all applicants could start at the same time.
Hot Take: VanEck CEO’s Bullish Prediction for Bitcoin Price
In an interview with CNBC, VanEck CEO Jan van Eck made a bullish prediction for the price of Bitcoin. He expects the cryptocurrency to reach a new all-time high within the next 12 months. Van Eck also discussed the filing of a Bitcoin ETF by VanEck and expressed his belief that multiple applications will be approved simultaneously by the SEC. He emphasized the similarities between the performance of gold and Bitcoin, noting their rallies in 2021. Van Eck dismissed the idea that Bitcoin is a bubble and stated that it will continue to grow. Overall, his outlook for Bitcoin remains optimistic.
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