Bitcoin Could Hit $1M in Five Years, VanEck Calls It the Base Case
VanEck's Head of Digital Assets Research Matthew Sigel predicts that Bitcoin could reach $1 million per coin within five years. In an appearance on CNBC's Halftime Report, Sigel framed this as their base-case scenario rather than a speculative target.
Sigel pointed to demographic shifts and rising allocations from younger investors as key drivers of adoption. He also cited the first central bank purchase of Bitcoin for reserves as evidence that institutional interest is growing beyond retail speculation.
The current price tells a harder story, however: Bitcoin would need to climb more than 12-fold from its recent trading value of $81,042 to validate this call. Sigel acknowledged that the road ahead will be rough, but saw some support in the lack of froth in derivatives markets and positioning that is still leaning bearish.