VanEck CEO Provides A ‘Reasonable’ Target For Bitcoin Based On Gold’s Value

News

VanECK CEO Jan Van Eck says Bitcoin could reach $300,000

In a recent interview with CNBC, VanEck CEO, Jan Van Eck, said that Bitcoin could reach $300,000. This estimate, according to Van Eck, rests on the assumption that the crypto could eventually achieve a market cap equal to half of all the gold currently in circulation. He described this projection as a “reasonable, base assumption,” reflecting a balanced view rather than an overly optimistic stance.

In making the forecast, Van Eck has worked off the belief that Bitcoin would someday achieve half the market capitalization of gold, given a fair and balanced expectation for it’s potential as “digital gold.”

VanEck CEO Predicts Bitcoin Price Could Hit $300,000

Jan Van Eck, VanEck CEO, recently shared a bold prediction, suggesting Bitcoin’s value could rise to around $300,000.

This estimate, he explained, is based on the coin eventually reaching half the market cap of all the gold in circulation, which he considers a “reasonable, base assumption.” Rather than envisioning the cryptocurrency completely replacing gold as a store of value, Van Eck sees it as achieving a substantial portion of gold’s standing, driven by its appeal as “digital gold.”

Van Eck added that BTC, that recently reached its ATH of $77K, has witnessed much more significant gains this year, partly driven by the interest of individual investors. As he cited, the fresh performance and the soaring demand for Bitcoin ETFs depict their increasing role in the US financial landscape.

VanEck CEO said this has attracted a substantial number of individual investors to the asset class, making it even a political talking point in Ohio’s Senate race and the appearance of Trump at a Bitcoin convention. Van Eck now hopes this popularity brings bipartisan support in the US, further cementing BTC as an asset class worthy of continued growth.

But Van Eck doesn’t espouse a maximalist view in which BTC replaces gold entirely. He thinks the $300,000 target is just a reasonable base case, assuming it captures roughly 50% of the value of gold. That, he said, is a more conservative view than others who believe the coin will eventually supplant gold as the best store of value.

Bitcoin as Store of Value, Ethereum as Platform

Beyond Bitcoin, he looked at general cryptocurrency, especially Ethereum. He thinks of BTC as a “store of value asset,” somewhat like gold, while Ethereum, VanEck CEO says, could be an investment that is much more multidimensional in nature, demanding deep insight into its usefulness, its competition, and where it would stand within the greater scheme of the digital economy.

Ethereum, he explained, acts like a database and a basic foundational platform for blockchain-based applications, particularly those supporting stablecoins and decentralized finance.

He also pointed to stablecoins as a new global payment system that Ethereum is well-positioned to underpin, at least in transition. He added that Ethereum’s recent market performance indicated it was a strong entry point for the more informed investor.

VanEck CEO furthermore conceded that crypto-related stocks, such as Coinbase, and meme coins, like Dogecoin, are gaining momentum but spoke of a preference for established assets with strong use cases. Van Eck’s comments prove belief in the broader potential of blockchain technology: how Bitcoin, Ethereum, and stablecoins can coexist in different yet complementary ways in the financial ecosystem.

Bitcoin Vs. Gold: BlackRock’s Bitcoin ETF Surpasses Gold ETF

It seems that VanEck CEO might be right when talking about the price. Other companies who went into Bitcoin ETFs also had an eye on Bitcoin investing. The latest trading data indicate that BlackRock’s Bitcoin ETF, IBIT, has become more significant than its Gold ETF; that is something, as Bitcoin reached an all-time high. This becomes even more interesting, with gold trading at its highest price since 1980 and further setting in stone the view of Bitcoin as “digital gold” with strong potential to become a new store of value.

The value of IBIT has appreciated over the past couple of months, reaching a six-month high toward the end of October and continuing upward strongly. This upward momentum was accelerated significantly following Donald Trump’s re-election, witnessed by record single-day inflows across Bitcoin ETFs led by IBIT.

The post VanEck CEO Provides A ‘Reasonable’ Target For Bitcoin Based On Gold’s Value appeared first on CoinGape.

Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0

PRC Comment Policy

Your comments MUST BE constructive with vivid and clear suggestion relating to the post.

Your comments MUST NOT be less than 5 words.

Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.

Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.

Constructive REPLY to comments is allowed

Leave a Reply