The CEO of investment management firm VanEck says he cannot imagine a world in which Bitcoin (BTC) is overtaken as the leading store of value online.
“I don’t think I can think of any other store of value on the internet [will] will overtake Bitcoin,” said Jan van Eck in an interview with CNBC on December 16th.
“There are 50 million Bitcoin users, so it has network effects.”
The CEO – $76.4 billion in assets under management – also dismissed accusations that Bitcoin is in a “bubble,” stating that no asset has ever been in a bubble that is in continue to outperform itself with every market cycle. He added:
“Bitcoin is the obvious asset growing before our eyes.”
Meanwhile, Van Eck expects Bitcoin to reach an all-time high in the next 12 months.
VanEck CEO @JanvanEck3 expects Bitcoin to reach an all-time high in the next 12 months. “It’s an asset that’s growing up before our eyes.” Also, some good notes on the Bitcoin ETF efforts and the macro cycle on the ground. pic.twitter.com/02qZOVBPyx
– Gabor Gurbacs (@gaborgurbacs) December 16, 2023
VanEck's CEO said that he and his late father John van Eck – who founded the company in 1955 – have valuable investments in their DNA and that he believes Bitcoin will become a complement to gold.
VanEck founded the first gold fund in the United States in 1968 under the leadership of John van Eck.
VanEck is one of 13 applicants vying to become an approved spot Bitcoin exchange-traded fund in the United States.
Related: VanEck files 5th Amendment to classify Bitcoin ETF under “HODL”.
The company’s CEO expects all applications for spot Bitcoin exchange-traded funds to be approved on the same day.
ETF analysts expect the Securities and Exchange Commission to make a decision on several outstanding spot Bitcoin ETF applicants sometime between January 5th and January 10th, with BlackRock, Grayscale, Bitwise, WisdomTree, Invesco and Galaxy, Fidelity, Hashdex and others are also awaiting a final decision from the SEC.
Magazine: BlackRock Revamps BTC ETF Filing, El Salvador Crypto Citizenship Trends and More: Hodler's Digest, Oct. 10-16 December
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