Jan van Eck: "Bitcoin could reach $18 million in this bull market cycle"

YM Lee

Summary

Jan van Eck, CEO of VanEck, stated that Bitcoin has the potential to compete with gold as a value storage.
He mentioned that the value of Bitcoin is driven by its role as a global network, and it could reach $15 to $18 million in the future.
His expectation that Bitcoin could reach half of the total gold market capitalization indicates a potential for significant increase.

Global investment firm VanEck's CEO, Jan van Eck, expressed an optimistic outlook on Bitcoin.

According to a report by CryptoDNES on the 28th (local time), Jan van Eck emphasized that Bitcoin's true value comes from being a 'value transfer network'.

Jan van Eck stated, "Historically, Bitcoin has seen significant price increases after new supply decreases. As its use and adoption increase as a 'value transfer network', its overall value will rise."

He predicted that Bitcoin will become a competitive asset against gold. Van Eck mentioned, "Bitcoin can ultimately compete with gold as a value storage, and in the long term, it could reach half of the total gold market capitalization. In this bull market cycle, it is expected to reach $15 to $18 million, and in the subsequent cycle, it could surpass $40 million."

BTC