CEO of VanECK, Jan van Eck, had so much to say about Bitcoin in a recent interview. One of the highlights was his prediction about when the flagship cryptocurrency will again reached its highest point ever (ATH) of $69,000.
When Bitcoin will reach $69,000 again
In a interview At CNBC, Jan Van Eck stated that he expects Bitcoin to reach a new ATH in the next twelve months. That means the crypto token could regain and possibly surpass its current ATH of $69,000 based on Van Eck’s prediction. Interesting enough, his firm predicts that Bitcoin could witness a new ATH by November 9, 2024.
Throughout the entire interview, Jan Van Eck sounded so optimistic about BTC. He highlighted how he had always been a strong supporter of the crypto token. He also noted that his company was the first ETF player to do so have submitted an offer a Spot Bitcoin ETF in 2017. However, the application was rejected at the time.
Asset manager VanEck’s relatively early interest in Bitcoin seemed to be driven by their CEO as he talked about how his interest in Bitcoin was growing. Van Eck told how he started listening to podcasts and even reading Bitcoin’s white paper. When the crypto token was trading at $3,000, he said he predicted it would still perform 10x from there.
The CEO of VanEck further stated that Bitcoin is “the obvious asset growing before our eyes.” He compared Bitcoin’s growth to that of China and how the country was underdeveloped years ago but now has one of the largest economies. Therefore, he suggested that BTC will still reach unprecedented heights.
BTC price falls below $41,000 | Source: BTCUSD on Tradingview.com
Nothing beats BTC
At one point in the interview, Van Eck was questioned about whether there could be anything else that tops this Bitcoin, just like it did with gold. He responded in the negative, stating that it is almost impossible for him to imagine any other “internet store of value” that surpasses Bitcoin.
Van Eck further noted that the macro behind Bitcoin is very strong. He also alluded to the macro cycle, especially as interest rates are expected to continue falling, and how this is bullish for the cryptocurrency. He believes this, along with the ones to come Bitcoin Halving Event are the factors that will make BTC perform better in the coming year.
Asset manager VanEck is one of several asset managers that have filed with the SEC to offer a Spot Bitcoin ETF. Of approval possible on the horizonThe company’s CEO believes that the Commission will likely approve the ongoing funds at the same time. His belief stems from the fact that the SEC did the same with the Ethereum Futures ETF.
Featured image from Capital.com, chart from Tradingview.com
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