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Wednesday, June 5, 2024
HomeCryptoCEO VanEck predicts Bitcoin will reach half the market capitalization of gold

CEO VanEck predicts Bitcoin will reach half the market capitalization of gold

In an interview with Scott Melker, VanEck stated that the leading cryptocurrency could eventually reach a market capitalization of over $7 trillion. That would be half of gold’s $15 trillion, representing a major shift in BTC’s integration across the financial sector.

VanEck CEO predicts a $7 trillion market cap for Bitcoin

Throughout 2024, Bitcoin has been one of the most discussed assets in the financial sector. The U.S. Securities and Exchange Commission (SEC) approved the issuance of a Bitcoin ETF spot in January, boosting the digital asset’s overall exposure to institutional investors.

One of the key participants in that is VanEck, whose CEO shared their expectation that Bitcoin, the leading cryptocurrency, will reach a market capitalization half that of gold. That would put assets at a value of $7 trillion and would be the result of a major shift in the financial landscape.

Jan van Eck said Bitcoin “will eventually become at least half the market capitalization of gold. So I think it takes another 5 to 10 years. Our TradFi customers are still very confused about Bitcoin and they don’t want to talk about it, but their customers are making them talk about it.”

“So we have a long way to go,” Van Eck stated about Bitcoin’s potential increase in market capitalization. Ultimately, VanEck has high hopes as Bitcoin currently has a market capitalization of only $1.3 trillion. Their forecast could indicate a lot of changes taking place over the next decade for BTC and the market as a whole.

Mark Tyson
Mark Tyson
Freelance News Writer. Always interested in the way in which technology can change people's lives, and that is why I also advise individuals and companies when it comes to adopting all the advances in Apple devices and services.
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