The CEO of investment firm VanEck, Jan van Eck, expressed his conviction that Bitcoin will maintain its status as the dominant store of value on the internet, suggesting it's improbable for any other digital asset to surpass it in this role. In an interview with CNBC on December 16, van Eck emphasized Bitcoin's significant network effect, citing its user base of 50 million as a critical factor in solidifying its position.
Dismissing notions that Bitcoin is in a speculative bubble, van Eck highlighted its consistent outperformance across market cycles, refuting the idea that an asset in a bubble can consistently exhibit such growth. He affirmed Bitcoin's evident growth trajectory, calling it a clear asset that's continuously evolving.
Looking ahead, VanEck's CEO anticipates Bitcoin hitting new all-time highs within the next year. He underscored the generational history of store-of-value investing within his family, stating that Bitcoin will stand alongside gold as a valuable asset. Notably, VanEck initiated the first gold fund in the United States in 1968 under the stewardship of John van Eck, Jan's late father and the company's founder.
VanEck is among 13 applicants vying for approval for a spot Bitcoin exchange-traded fund (ETF) in the United States. The CEO expressed his expectations for simultaneous approval of all spot Bitcoin ETF applications. Analysts specializing in ETFs anticipate the U.S. Securities and Exchange Commission (SEC) to make decisions on multiple pending spot Bitcoin ETF applicants, including BlackRock, Grayscale, Bitwise, WisdomTree, Invesco, Galaxy, Fidelity, and Hashdex, among others, within a specified timeframe from January 5 to 10.
