VanEck CEO: The value of BTC has the potential to appreciate further because it is a maturing asset

06/10 10:00

According to Cryptopotato, Jan Van Eck, CEO of global investment manager VanEck, believes the value of one bitcoin could skyrocket to as high as $250,000, but the quarter of a million dollars prediction could take decades to happen. Jan Van Eck said the value of BTC has the potential to appreciate further because it is a maturing asset. The executive added that Bitcoin has also seen increased adoption from institutional investors and governments interested in the asset. Jan Van Eck mentioned that bitcoin taking up part of the demand for the precious metal is one of the reasons for its sluggish price performance. However, the VanEck chief believes that “gold will do better when everyone is worried about a global recession and asking when the Fed will cut rates next. Until then, gold has had some headwinds.” Van Eck also said investors should allocate a maximum of three percent of their portfolios to BTC while revealing that his bitcoin exposure is higher because of the strong conviction he has about the asset. On the issue of spot Bitcoin exchange-traded funds (ETFs), Van Eck said: “The SEC doesn’t want to approve a Bitcoin ETF until it gets jurisdiction over the underlying cryptocurrency exchanges, which has to happen through legislation. And in an election year, it’s unlikely that legislation will happen.”

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