Cryptocurrency

Bitcoin received’t be overwhelmed as digital retailer of worth: VanEck CEO

December 18, 2023
1 minute read

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The CEO of funding administration agency VanEck says he can’t see a world the place Bitcoin (BTC) is overtaken because the main retailer of worth on the web.

“I believe it’s inconceivable for me to think about another web retailer of worth [will] leapfrog Bitcoin,” Jan van Eck said in a Dec. 16 interview with CNBC.

“There’s 50 million customers of Bitcoin, so it’s received community results.”

The CEO —  $76.4 billion in belongings beneath administration — additionally crushed accusations that Bitcoin is in a “bubble,” — explaining that no asset has ever been in a bubble that continues to outperform itself each market cycle. He added:

“Bitcoin is the plain asset that’s rising up in entrance of our eyes.”

In the meantime, Van Eck expects Bitcoin to see all-time highs within the subsequent 12 months.

The VanEck CEO mentioned he and his late father, John van Eck — who based the agency in 1955 — have retailer of worth investing of their “DNA” and that he sees Bitcoin changing into an “accompaniment” to gold.

VanEck launched the primary gold fund in the US beneath John van Eck’s management in 1968.

VanEck is considered one of 13 candidates gunning for an authorised spot Bitcoin exchange-traded fund in the US.

Associated: VanEck information fifth modification to identify Bitcoin ETF beneath ‘HODL’

The agency’s CEO expects all spot Bitcoin exchange-traded fund purposes to be authorised on the identical day.

ETF analysts predict the Securities and Alternate Fee will challenge a choice on a number of pending spot Bitcoin ETF candidates someday between Jan. 5–10, with BlackRock, Grayscale, Bitwise, WisdomTree, Invesco Galaxy, Constancy, and Hashdex, and different monetary corporations additionally ready for a ultimate determination by the SEC.

Journal: BlackRock revises BTC ETF submitting, El Salvador’s crypto citizenship trending, and extra: Hodler’s Digest, Dec. 10-16