Bitcoin Prediction from the CEO of a $101.9 Billion Company: The Price May Increase by 6x!
The CEO of VanEck, which has $101.9 billion in assets under management, announced the market value target for Bitcoin (BTC).
The CEO of exchange-traded fund (ETF) manager VanEck commented on the relationship between Bitcoin and gold at Paris Blockchain Week 2024.
There may be a 6-fold increase in price
VanEck CEO Jan van Eck expects investors to treat Bitcoin like gold over time.
Van Eck said they hope central banks will add Bitcoin to their reserves just as they added gold.
The master said that Bitcoin could gain a market value of half the market value of gold in the next 5 to 10 years. The current market value of gold is estimated to be close to $15.7 trillion.
According to CoinGecko data, the market value of Bitcoin is at the level of 1.3 billion dollars. Increasing this to half the value of gold would cause the price of Bitcoin to rise more than 5 times.
They are not able to operate
Van Eck said his customers still experience a lot of âconfusionâ about Bitcoin. âThey buy at the peak and [the price] then bottoms,â he said, and thinks that investors cannot make the right decisions about how much space to give to Bitcoin in the portfolio.
Van Eck said, âThere are many companies in the US and of course in Europe that distribute portfolios on behalf of other people. âI hope those who make these distributions can evaluate gold or Bitcoin at the right time in the market cycle and turn this into an advantage for their customers,â he said.