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

VanEck Digital Asset Director Matthew Sigel predicts Bitcoin will surge to $1 million within 5 years. This view resonates with Donald Trump’s son and several analysts.

While the market is still debating whether Bitcoin can hold steady at $80k, some on Wall Street have already set their sights directly on $1 million. VanEck Digital Asset Research Director Matthew Sigel stated on Wednesday that Bitcoin is expected to reach $1 million within the next 5 years.

Matthew Sigel told CNBC in an interview: “I believe there’s a chance within 5 years.”

By observing demographic changes and the strong willingness of young investors to allocate funds to Bitcoin, this target is not out of reach.

Considering that Bitcoin’s all-time high has never truly exceeded $126k by a large margin, it may sound somewhat fantastical to call for $1 million now, but in Wall Street and the crypto world, many industry insiders and analysts share similar views.

Just last month, Bitwise Chief Investment Officer Matt Hougan also floated a target price of $1 million; even Donald Trump’s son Eric Trump publicly stated on Wednesday that he firmly believes Bitcoin will break through the $1 million mark. In fact, as early as 2024, VanEck CEO Jan Van Eck predicted Bitcoin could rise to $300k.

However, investors should be aware that these “Bitcoin super-bulls” often have interests closely tied to the coin’s price. When the price skyrockets, their affiliated companies will directly benefit.

Take Eric Trump as an example; he is a co-founder of American Bitcoin, a cryptocurrency mining and asset management firm. Meanwhile, VanEck, as the issuer of Bitcoin spot ETFs, undoubtedly benefits from a rising coin price.

When asked why he is so confident about the $1 million target price, Matthew Sigel offered a very down-to-earth analogy:

It’s like the development history of the e-sports industry. 30 years ago, gaming was just a hobby for kids; but today, even Elon Musk, the world’s richest man, is obsessed with gaming. Once people fall in love with playing games, they won’t easily quit; similarly, those who understand and have engaged with Bitcoin won’t easily get off the train. We’ve already seen central banks starting to include Bitcoin in their reserves, so this is a super trend — it will just be very volatile along the way.

• This article is reprinted with permission from: 《Block Beast》
• 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