VanEck CEO Jan Van Eck recently forecasted that Bitcoin could surge to as much as $2.9 million per coin by 2050. During an appearance on “The Claman Countdown” on Thursday, Van Eck explained that Bitcoin is maturing and could eventually match half of gold’s total market cap. Based on the current market cap of gold, this prediction would place Bitcoin’s value at approximately $350,000 per coin, a significant increase from its current level of around $64,000.
Van Eck also discussed a highly optimistic scenario where central banks worldwide might incorporate Bitcoin into their monetary systems, potentially driving its value to millions per coin. Despite his cautious approach to speculating such high values, he suggested that under certain conditions, Bitcoin could reach up to $2.9 million by 2050.
This year, VanEck successfully launched spot Bitcoin and Ethereum ETFs, which the CEO described as among the most successful ETF launches in history.
Additionally, Jan Van Eck disclosed at the Bitcoin 2024 conference that he has invested over 30% of his personal wealth in Bitcoin. “I always want to tell people what I’m doing personally because they should know,” he said. “I’m way over 30%.”
Van Eck highlighted the difficulty in deciding how much to invest in Bitcoin due to the strong bullish outlook, which undermines any rationale for selling. He cited his company’s recent research, suggesting that Bitcoin could increase fiftyfold to $3 million per coin by 2050 if it becomes a global reserve currency.
“Everyone I meet at Bitcoin conferences owns way more in their own portfolio,” Van Eck said. “Why should I be selling Bitcoin if I believe this super bull case?”
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