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#BTCPullback Matthew Siegel (VanEck): Bitcoin could rise to $1,000,000 within the next ~5 years in the company's baseline scenario.
• The current BTC rally looks more like a mass short squeeze rather than an overheated market.
• The correlation between BTC and Nasdaq has reached its highest level in the past 5 years.
• VanEck believes that a strong trend is forming at the intersection of BTC and AI.
• Young investors continue to accumulate BTC.
• One of the central banks has already started buying BTC for reserves.
• Bitcoin is a megatrend, but the path will be very volatile.