Jan Van Eck, CEO of VanEck, is one of the prominent analysts betting on the top crypto asset’s rise. According to Van Eck, Bitcoin will top $300k, which is a reasonable estimate. In addition, Van Eck and other market experts have shared the same sentiments, with Fundtrat’s CIO expecting BTC to trade above $100k before the year ends.
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When asked to explain, the CEO shared that his estimate is a “reasonable assumption” given the current market conditions. Van Eck further predicted that Bitcoin is the industry’s digital gold and will soon achieve half of gold’s total market valuation.
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Interestingly, the CEO insisted that his price prediction is conservative and that other bullish analysts would offer a higher estimate for Bitcoin. He added that his estimate is just a base price, and he wouldn’t be surprised if the crypto exceeds his target.
Bitcoin: Market Performance Driven By Increased Demand From Investors
In the same CNBC interview, Van Eck shared that the recent Bitcoin run is partly powered by individual and institutional demand for ETFs. He cited Thursday’s market volume for Bitcoin ETFs, which boasts an inflow of $1.37 billion.
Then, there’s Republican Donald Trump’s recent win. Trump was seen as more friendly to cryptocurrency and blockchain technology and has publicly shared his plans to make the US the world’s “Bitcoin capital.”
