Recently, the CEO of VanEck predicted that Bitcoin will come to represent half of the market capitalization of gold. Not surprisingly, Jan van Eck has recently discussed the digital asset and the timing for what could be a monumental rise.
Let’s see all the details below.
VanEck: an analysis of Bitcoin’s potential in the context of gold
As anticipated, the CEO of VanEck has projected that Bitcoin, the important cryptocurrency, could soon represent at least half of the market capitalization of gold.
Jan van Eck, in a recent discussion with Scott Melker, highlighted the possibility of a significant increase in the digital asset.
In an interview, VanEck stated that Bitcoin could reach a market capitalization exceeding 7 trillion dollars, equivalent to half the value of gold. Thus marking a significant change in the global financial landscape.
During the course of 2024, Bitcoin was at the center of attention in the financial sector, with the approval by the United States Securities and Exchange Commission (SEC) of spot ETFs on Bitcoin in January.
Which has expanded access to the digital asset for institutional investors.
VanEck has played a key role in this dynamic, with its CEO expressing the prediction that Bitcoin could represent half of the market capitalization of gold.
Van Eck highlighted that this could still take another five or ten years, as many traditional clients in the financial sector are still reluctant to address the topic of Bitcoin.
Furthermore, Van Eck acknowledged that there is still a long way to go for the potential increase in Bitcoin’s market capitalization, considering that it currently stands at only 1.3 trillion dollars.
Tuttavia, la previsione di VanEck indica una optimistic outlook per Bitcoin nel prossimo decennio, con profondi impatti sul mercato nel suo complesso.
Bitcoin (BTC) slows down: a phase of reaccumulation in progress
Bitcoin (BTC) has slowed its pace after the halving, disappointing predictions of rapid growth. Instead, it has entered a reaccumulation phase, with investors evaluating opportunities during periods of decline or stability of the token.
In the last quarter, BTC has remained confined in a narrow range, moving from $61,000-$64,000 to the current $67,000-$70,000. However, this could indicate a certain degree of stability in a context of volatility.
The forecasts indicate that BTC could reach $84,000 and then $100,000 by the end of the year, despite the recent test at $71,500 in May. Currently traded at around $68,974.52, Bitcoin could soon surpass its all-time high.
The trends around the ETF Spot Bitcoin have attracted both institutional and retail investors, although a small window of interest towards altcoins has temporarily influenced BTC.
Although the sentiment is generally bull, some investors might be frustrated or looking for greater diversification opportunities.
However, according to Rekt Capital, Bitcoin has been in a reaccumulation phase for 49 days, a period that could precede further growth after the halving.
The community reacts to the current trends, with speculations about the $73,000 target gaining momentum while discussing the role of meme coins in the crypto landscape.