Bitcoin to reach 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 multiple analysts.

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

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

Just by looking at demographic changes and the strong willingness of young investors to allocate funds to Bitcoin, you can see that this goal is not out of reach.

Given that Bitcoin’s all-time high has never truly gone far beyond $126,000, calling for “$1 million” at this stage may sound like a fairy tale. However, in both Wall Street and the crypto world, many industry insiders and analysts also hold similar views.

Just last month, Bitwise Chief Investment Officer Matt Hougan also floated a $1 million target price; and on Wednesday, Eric Trump—Donald Trump’s son—also publicly stated that he firmly believes 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.

That said, investors should note that the self-interest of this group of “Bitcoin super bulls” is often tightly tied to the coin’s price. Once the coin goes on a wild rally, their affiliated companies will become direct beneficiaries.

Take Eric Trump as an example. He is a co-founder of American Bitcoin, a cryptocurrency mining and capital management company. Meanwhile, VanEck—issuer of Bitcoin spot ETFs—will undoubtedly benefit greatly from a strengthening Bitcoin price.

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

It’s just like the 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 crazy about gaming. Once people fall in love with playing games, they won’t easily quit. Similarly, people who have come to understand and engage 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 be very volatile in the process, but it’s unstoppable.

• This article is 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