Summary
- Matthew Sigel, VanEck's head of digital asset research, said Bitcoin could reach $1 million within the next five years.
- He cited rising Bitcoin allocations among younger investors as the main basis for the forecast.
- Even with Bitcoin currently trading at about $80,000, Matt Hougan and Eric Trump have also mentioned the possibility of it reaching $1 million.
Forecast Trend Report by Period
Bitcoin could reach $1 million within the next five years, VanEck's head of digital asset research said.
The Block reported on May 6 that Matthew Sigel told CNBC that Bitcoin hitting $1 million in about five years was possible. He cited rising allocations to Bitcoin among younger investors as the main basis for the forecast.
That would mark an optimistic scenario given Bitcoin is currently trading at about $80,000.
Still, similar predictions have continued across the industry. Matt Hougan, chief investment officer at Bitwise, recently mentioned the possibility of Bitcoin reaching $1 million. Eric Trump, son of President Donald Trump, has also made the same prediction.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
