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 Chief Matthew Sigel predicts that 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 above $80,000, some in Wall Street have already set the target directly at $1 million. VanEck Digital Asset Research Director Matthew Sigel said on Wednesday that Bitcoin is expected to reach $1 million within the next 5 years.

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

Just look at how demographics are changing—and the strong willingness of young investors to allocate funds to Bitcoin—and you’ll see that this goal isn’t out of reach.

Given that Bitcoin’s all-time high has never truly exceeded $126,000 by a wide margin, calling out “$1 million” at this stage might sound far-fetched. But in Wall Street and the crypto space, there are plenty of industry insiders and analysts who hold similar views.

As far back as last month, Bitwise CIO Matt Hougan also floated a target price of $1 million; and even Eric Trump, Donald Trump’s son, publicly stated on Wednesday that he firmly believes Bitcoin will break 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 “Bitcoin super bulls’” own self-interest is often closely tied to the price of the coin. Once the coin price goes on a wild run, the related companies they control will become direct beneficiaries.

Take Eric Trump as an example—he is a co-founder of the cryptocurrency mining and asset management firm American Bitcoin. And VanEck, as the issuer of Bitcoin spot ETFs, will undoubtedly benefit a lot from a stronger 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 esports industry. 30 years ago, playing video games was still only for kids; but today, even the world’s richest man, Elon Musk, is obsessed with playing video games. Once people fall in love with playing games, they won’t easily quit. Similarly, people who have deeply understood and gotten involved with Bitcoin won’t easily get off the ride. We’ve already seen central banks starting to include Bitcoin in their reserves, so this is a super trend—it’s just that the process will be extremely volatile.

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