VanEck CEO Jan Van Eck predicts that Bitcoin could reach as high as $2.9 million by 2050. During an appearance on “The Claman Countdown” program on Thursday, Van Eck mentioned that Bitcoin is maturing and predicted that it will eventually equal half of the total market capitalization of gold.
Based on gold’s current market capitalization, the prediction would place Bitcoin’s value at about $350,000 per coin, a significant increase from today’s level of about $64,000, he said.
He also discussed a highly optimistic scenario in which central banks around the world could incorporate Bitcoin into their monetary systems, potentially increasing its value to millions per coin. He also showed hesitation to speculate on Bitcoin reaching such high values.
Nevertheless, he suggested that under certain assumptions, the price of bitcoin could reach as high as $2.9 million by 2050 . VanEck successfully launched the Bitcoin and Ethereum ETF earlier this year . The CEO described the Bitcoin ETF as one of the most successful ETF launches in history.
CEO Van Eck allocates more than 30% of his wealth to Bitcoin
In addition, Jan Van Eck recently revealed that he has invested more than 30% of his personal wealth in Bitcoin (BTC). “I always want to tell people what I do personally, because they should know,” he – he said at the Bitcoin 2024 conference.
The CEO noted that deciding how much money to invest in Bitcoin is difficult, as the strong argument for the digital currency undermines any rationale for selling it. He cited his company’s recent research, which suggests that Bitcoin could grow fifty-fold to $3 million per coin by 2050 if it becomes a global reserve currency.
“Everyone I meet at Bitcoin conferences has a lot more in their wallet,” – Eck said. “Why would I sell Bitcoins if I believe in this super bull market scenario?”
