VanEck CEO: ‘Bitcoin will be half of gold market cap,’ can hit $350K

Jan Van Eck, CEO of $107 billion asset manager VanEck, sees Bitcoin hitting $350k as quantitative easing begins amongst major central banks., the CEO said the price target could be hit if the digital asset attains half of gold’s market cap.

On an extreme stretch, Van Eck projected that BTC could hit $2.9M by 2050 if central banks adopt BTC and it becomes part of the monetary system. On the other hand, gold was at the top position with a $16.8 trillion market cap. That means the gold market cap was 13X more than BTC. ‘The longest-term chart indicates that BTC could advance to 150+; I believe in owning both Gold and Bitcoin.’For perspective, the BTCGLD ratio tracks BTC’s relative performance in gold terms. The ratio has risen higher since 2023, hitting 26.Based on Brandt’s chart, a drop to the range-low of the BTCGLD ratio of 15 would mean gold outperforming BTC, as it has in the past few weeks.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

“See You Friday”: Company Suffers Huge Loss Of $350k For Breaking Employee AgreementThis employee wasn’t willing to stick around in a company that sees no problem in a non-existent work-life balance and fails to honor the agreements they set in place.
Source: boredpanda - 🏆 18. / 72 Read more »

Person Quits On The Spot Because Of Mistreatment, Costs His Company A $350K ContractThis employee wasn’t willing to stick around in a company that sees no problem in a non-existent work-life balance and fails to honor the agreements they set in place.
Source: boredpanda - 🏆 18. / 72 Read more »