Bitcoin Could Reach $1 Million in Five Years, Says VanEck

VanEck's Head of Digital Assets Research Matthew Sigel believes Bitcoin (BTC) could reach $1 million within five years. In an interview on CNBC's Halftime Report, he framed this as the base-case scenario rather than an outlier bet.

Sigel cited demographic shifts and rising allocations from younger investors as structural drivers of adoption. He also pointed to the first central bank purchase of Bitcoin for reserves as proof that it is moving past retail speculation.

The milestone would require Bitcoin's price to climb over 12 times its current level, from around $81,042 to $1 million. Sigel acknowledged that the road will be rough, with Bitcoin's correlation with the Nasdaq hitting a five-year high and suggesting macro forces are steering the current rally.