Bitcoin to hit one million dollars within 5 years! VanEck: It will be like a video game, transforming from niche to mainstream

VanEck’s Head of Digital Assets, Matthew Sigel, predicts that Bitcoin will surge to $1 million within 5 years. This view has resonated with Donald Trump’s son and several analysts.

While the market is still debating whether Bitcoin can hold above $80,000, some on Wall Street have already set their sights directly on $1 million. VanEck’s Director of Digital Asset Research Matthew Sigel said on Wednesday that Bitcoin is expected to surge to $1 million within the next 5 years.

Matthew Sigel said in an interview with CNBC: “I believe there is a chance within 5 years.”

Just look at how demographics are changing and the strong desire of younger investors to allocate capital to Bitcoin—you’ll find that this goal isn’t as far-fetched as it sounds.

Given that Bitcoin’s historical high has never truly genuinely surpassed $126,000 by much, calling out “$1 million” at this stage may sound a bit far-fetched, but on Wall Street and in the crypto space, there are plenty of industry insiders and analysts who hold similar views.

Just last month, Bitwise Chief Investment Officer Matt Hougan also floated a $1 million target price; and on Wednesday, even Eric Trump, the son of U.S. President Donald Trump, publicly stated his belief that Bitcoin will break through the $1 million mark. In fact, as early as 2024, VanEck CEO Jan Van Eck had already predicted that Bitcoin could rise to $300,000.

However, investors should note that the interests of this group of “Bitcoin super bulls” are often highly tied to the coin’s price. Once the coin price goes on a wild surge, their affiliated companies become the direct beneficiaries.

Take Eric Trump as an example: he is a co-founder of American Bitcoin, a cryptocurrency mining and asset management company. And as the issuer of Bitcoin spot ETFs, VanEck is undoubtedly well positioned to benefit greatly when the Bitcoin price strengthens.

When asked why he is so firmly convinced about the “$1 million” target price, Matthew Sigel offered a fairly down-to-earth analogy:

It’s just like the development history of the e-sports industry. 30 years ago, playing video games was only for kids; but today, even the world’s richest man, Elon Musk, is obsessed with playing games. Once people get hooked on games, they won’t easily quit. Likewise, people who truly understand Bitcoin and have engaged with it won’t easily get off the train. We’ve already seen some central banks start to include Bitcoin in their reserves, so this is a super trend—only, the process will be extremely volatile.

• This article is reprinted with permission from: 《BlockBeats》
• Original title: 《Like e-sports shifting from niche to mainstream! VanEck confidently predicts: Bitcoin will rise to $1 million in 5 years》
• Original author: Block Sister MEL