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VanEck CEO predicts Bitcoin will reach half the market capitalization of gold
One of the largest investment banks in the United States, VanEck, saw its CEO predict that Bitcoin will reach at least half the market capitalization of gold. Indeed, Jan van Eck recently discussed the digital asset and the timing for what could be a monumental ascension.
In a interview with Scott Melker, VanEck said the leading cryptocurrency could eventually reach a market capitalization of more than $7 trillion. This figure would correspond to half of gold’s $15 trillion, representing a huge shift in the integration of BTC across the financial sector.
JUST JOINED: says VanEck CEO #Bitcoin it will eventually become at least half of gold’s market capitalization.
— Watcher.Guru (@WatcherGuru) June 4, 2024
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VanEck CEO predicts $7 trillion market cap for Bitcoin
Throughout 2024, Bitcoin has been one of the most talked about assets in the financial industry. The US Securities and Exchange Commission (SEC) approved the issuance of spot Bitcoin ETFs in January, increasing the digital asset’s overall exposure to institutional investors.
One of the key participants was VanEck, whose CEO shared expectations that Bitcoin, the leading cryptocurrency, would reach a market capitalization half that of gold. This would place the asset at a value of $7 trillion and would be the result of a massive shift in the financial landscape.
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Jan van Eck said that Bitcoin “will eventually become at least half the market capitalization of gold. So I think it will take another 5-10 years. Our TradFi clients are still very confused about Bitcoin and don’t want to talk about it, but their clients make them talk about it.”
“So, we have a long way to go,” Van Eck said of Bitcoin’s potential rise in market capitalization. Ultimately, VanEck has high hopes, given that Bitcoin currently boasts a market capitalization of just $1.3 trillion. Their predictions could indicate many changes taking place in the next decade for BTC and the entire market.