VanEck Researcher Predicts Bitcoin to Reach $100,000 Next Year

Matthew Sigel, head of digital assets research at VanEck, predicts that Bitcoin will reach $100,000 by next year. He made this forecast on CNBC's Squawk Box Asia, citing government debt burdens as a factor in the asset's growth.

Sigel noted that volatility has decreased significantly compared to four years ago, and that traders are paying more for puts over calls. This trend is seen as bullish for Bitcoin.

In addition, Sigel pointed out that the Treasury bond buyback program triggered heavy short covering, which he believes will be a 'turbocharge' for Bitcoin when liquidity eases.

Sigel has previously made similar predictions, including a $500,000 target for 2029 and a $1 million target within several years. From its current price of around $77,400, Bitcoin needs a 29% gain to reach $100,000.