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CEO of Devin, worth $118 billion, sets $300,000 target for Bitcoin - Coin Bulletin
Jan Van Eck, the CEO of VanEck, which manages $118 billion, predicted in an interview with CNBC that Bitcoin will reach its all-time high, and shortly after, BTC surpassed the $77,000 level for the first time, albeit briefly.
When asked whether Bitcoin will continue to move towards $100,000, Van Eck said, "Bitcoin broke a record today, and I think it will rise even further."
Van Eck suggests that the value of Bitcoin will reach half of the total gold value in the market in the long run, and believes that this could push the price of BTC to $300,000. Van Eck did not provide a specific explanation for this 'half of gold' theory, but stated that it is a 'reasonable assumption'.
Given that VanEck has introduced a spot Bitcoin ETF, it is worth noting that positive expectations for the future of Bitcoin are in line with the company's interests. In the interview, Van Eck stated, "Individual investors have shown significant interest in Bitcoin ETFs."
In general, the cryptocurrency market is on an upward trend this week due to the newly elected US president Donald Trump being seen as a leader supporting digital assets. Analysts from JPMorgan, one of Wall Street's major banks, also predict that Bitcoin will perform well under the Trump administration.