VanEck CEO: Bitcoin Will Reach $250,000

Reading Time: < 1 minute

VanEck Asset Manager CEO Jan van Eck has said in an interview with Barrons that he believes the Bitcoin price will hit $250,000. According to him:

“But that could take decades. It is difficult to set a time frame for this.”

He believes Bitcoin has a bright future and has to reach half of the market capitalization of gold, which is about $10.6 trillion.

The VanEck CEO has noted the gradual acceptance of BTC by institutional investors and governments of different countries. He has also highlighted the benefits of blockchain to increase efficiency and reduce risk in the financial system.

According to him, investors should direct 0.5%-3% of the capital into Bitcoin, but he has allocated a share more because of his belief in the success of the asset. He has also owned Ethereum since 2019 and is optimistic about the prospects for the altcoin.