VanEck Executive: Bitcoin Expected to Return to Historical Highs in the Next 12 Months

On May 10, Matthew Sigel, Head of Digital Asset Research at VanEck, stated in an interview with CNBC that he expects Bitcoin to reach its historical highs again within the next 12 months. He noted that the current correlation between BTC and the Nasdaq is near a five-year high, and the resilience of the U.S. stock market has driven this round of rebound. However, the derivatives market still lacks a clear optimistic sentiment, with the futures and options markets reflecting more short covering and hedging demand. Therefore, from a contrarian perspective, there may still be room for the trend to continue. Matthew Sigel also mentioned that this year, a central bank has announced the inclusion of Bitcoin in its foreign exchange reserves, indicating that BTC is gradually becoming a global asset used for large-scale cross-border transaction settlements. He believes this is a significant trend. In terms of investment direction, he is more optimistic about the increase in Bitcoin’s market share and Bitcoin mining companies benefiting from the integration with AI trends. He stated that mining companies are becoming important beneficiaries of AI infrastructure, and as AI business grows, the pressure on mining companies to sell BTC for fundraising is decreasing. Additionally, Matthew Sigel believes that if the CLARITY Act is passed, it could reignite sentiment in the altcoin market, but currently, institutional investors remain cautious about most altcoins due to regulatory and investor protection issues.