VanEck CEO says Bitcoin will not be able to beat as a digital store of value
The CEO of investment management firm VanEck says he cannot see a world in which Bitcoin (BTC) becomes the leading store of value on the internet.
“I think it’s impossible to imagine any other Internet store of value surpassing Bitcoin,” Jan van Eck told CNBC on December 16.
“There are 50 million Bitcoin users, so there is a network effect.”
The CEO, who manages $76.4 billion in assets, dismissed accusations that Bitcoin is in a “bubble”, explaining that no asset consistently outperforms every market cycle. He added:
“Bitcoin is a solid asset that is growing before our eyes.”
Meanwhile, Van Eck expects Bitcoin to hit an all-time high within the next 12 months.
VanEck CEO @JanvanEck3 Bitcoin is expected to hit all-time highs over the next 12 months. “It’s an asset that’s growing before our eyes.” There are also some good notes on Bitcoin ETF efforts and macro cycles. pic.twitter.com/02qZOVBPyx
— Gabor Gurbacs (@gaborgurbacs) December 16, 2023
CEO VanEck said he and his late father, John van Eck, who founded the company in 1955, hold investing values in their “DNA” and see Bitcoin as a “companion” to gold.
VanEck launched America’s first gold fund in 1968 under the leadership of John van Eck.
VanEck is one of 13 applicants seeking to become a licensed spot Bitcoin exchange-traded fund in the United States.
Related: VanEck Files 5th Amendment to Include Bitcoin ETFs in ‘HODL’
The company’s CEO expects all spot Bitcoin exchange-traded fund applications to be approved on the same day.
ETF analysts predict that the U.S. Securities and Exchange Commission (SEC) will make decisions on several pending spot Bitcoin ETF applicants between January 5 and 10, including BlackRock, Grayscale, Bitwise, WisdomTree, Invesco Galaxy, Fidelity, Hashdex and other financial companies are also waiting. For final decision by SEC.
magazine: BlackRock fixes BTC ETF filing, cryptocurrency citizenship trends in El Salvador, and more: Hodler’s Digest, December 10-16
