VanEck Projects Bitcoin Could Reach $3 Million by 2050
- VanEck estimates bitcoin could hit $3 million by 2050 if it gains traction in global trade and energy markets.
- The firm’s medium-term target for bitcoin is approximately $500,000, which aligns with half of gold’s market capitalization.
- Matthew Sigel, head of digital asset research at VanEck, views bitcoin as a hedge against dollar debasement but warns of quantum computing risks.
- Currently, about 2% of VanEck’s assets are allocated to digital assets compared to around 13% for gold-related investments.
- The bitcoin-to-gold ratio recently fell to between 16 and 17, near multiyear lows, after previously reaching about 40.
VanEck’s long-term outlook on bitcoin reflects its potential role in global trade and highlights the growing interest from younger generations and sovereign states. The firm remains cautious about short-term volatility while emphasizing the importance of strategic energy contracts for miners.
With a medium-term target set at $500,000 per bitcoin, achieving this would require significant market developments.(Source)
